May 5 (SeeNews) - Bulgarian diversified group CBA Asset Management's [BUL:C81] said that it has completed the acquisition of 100% of local company SPMI.
CBA Asset Management has already moved SPMI's headquarters to Logistics Centre CBA, in the town of Debelets, the company said in a bourse filing on Monday.
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Bulgaria's competition regulator cleared the acquisition in February.
Veliko Tarnovo-based SPMI holds 50% in CBA, the operator of a supermarket chain under the CBA brand. CBA operates its supermarket chain under a licensing agreement signed with CBA Asset Management.
SPMI generated revenue of 5.7 million levs ($3.2 million/2.9 million euro) in 2018, according to its latest annual financial statement.
(1 euro = 1.95583 levs)