December 9 (SeeNews) - Bulgaria's Chernomorski Holding [BUL:5L3] is seeking anti-trust approval to acquire local Varna Traks, according to data published on the competition regulator's website on Monday.
The acquisition is expected to affect competition on the local road freight transportation market segment, a notice posted on the Commission for Protection of Competition's website reads.
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Varna Traks generated revenue of 3.1 million levs ($1.8 million/1.6 million euro) in 2018, and closed the year with a slim profit of just 1,000 levs, according to its most recent financial statement.
Chernomorski Holding reported consolidated revenue of 1 million levs and a net profit of 346,000 levs in the first nine months of 2019. There are no shareholders owning over 5% interest in the holding company.
(1 euro = 1.95583 levs)