June 8 (SeeNews) - The Bulgarian competition authority said on Thursday it has granted approval to Doverie United Holding [BUL:5DOV] to acquire control of local soap and detergent producer Veko.
As the two companies do not operate on the same or similar segments of the market, the Commission for Protection of Competition finds there is no need for further analysis of the acquisition, it said.
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Veko, based in Troyan, in central Bulgaria, produces washing powder, dishwashing detergents and liquid soaps under the brand IZI. The company has a registered capital of 5,000 levs ($2,870/2,550 euro), according to the country’s commercial register.
Doverie United Holding spans 20 companies operating in various sectors.
As at 11:20 CET on Thursday, Doverie United Holding shares were traded 0.05% lower at 1.815 levs.
(1 euro = 1.95583 levs)