June 1 (SeeNews) - Bulgarian investment fund Empower Capital and plant protection company Agro-Bio Trading have been granted approval to jointly acquire local fast food chain PizzaLab, the country's competition regulator said on Thursday.
“It has been established during the proceedings that the participants in the concentration do not operate on the same markets,” the Commission for Protection of Competition said in a statement.
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PizzaLab, founded in 2015, operates four fast food restaurants located in Sofia and Plovdiv. The Sofia-based company has a registered capital of 252,830 levs ($145,150/129,260 euro), according to the country’s commercial register.
Empower Capital aims to support leading Bulgarian companies. The fund's capital was provided under JEREMIE - a joint initiative launched by the European Commission and the European Investment Bank (EIB) to improve access to finance for SMEs in the EU.
Agro-Bio Trading, founded in 1992, is a distributor of pesticides and fertilizers.
(1 euro = 1.95583 levs)