January 12 (SeeNews) - Bulgaria’s Commission on Protection of Competition said that it will evaluate local Astra-Finance’s planned acquisition of majority control of Oiltanking Bulgaria, part of German gas, chemicals and petroleum storage provider Oiltanking.
The deal is expected to have an effect on the Bulgarian market for storage of liquid chemical products, the regulator said in a notice published on Wednesday.
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Oiltanking Bulgaria operates a terminal of four tanks for storage of liquid products near the town of Devnya, at the western end of the port of Varna in northeastern Bulgaria. It provides storage and handling services for inorganic chemicals, biofuels and edible oils.
Astra-Finance, which is an indirect unit of fuel trading and railway services group Bulmarket, is active in leasing assets, administrative services and control of equity in subsidiaries.
German Oiltanking first disclosed in November that it had agreed to sell its 91.1% stake in the liquid storage terminal to Astra-Finance. The remaining shares in the facility are owned by the Port of Varna and are not subject to the deal.