SOFIA (Bulgaria), March 17 (SeeNews) – Bulgaria's competition regulator said on Tuesday it has given the go-ahead to local blue-chip construction company Holding Roads to acquire a 97.66% stake in Sofia-based private jet charter operator AVB-2004 for an undisclosed sum.
The Commission for Protection of Competition considers that the deal will not affect the competitive environment in Bulgaria as it will not result in the establishment or strengthening of a dominant position that could obstruct effective competition on the respective market, the regulator said in a statement.
Prior to the deal, AVB-2004 was co-owned by Lear Company AD and Bulgarian private company Nove Holding.
AVB-2004 provides charter services to private and corporate clients, mainly foreigners. Most flights are executed to private airports in France and the UK.
Shares of Holding Roads, part of the blue-chip SOFIX index of the Bulgarian Stock Exchange, were traded down 3.72% at 2.07 levs ($1.376/1.058 euro) by 1050 GMT on Tuesday. The statement was released during trading hours.
(1 euro = 1.95583 Bulgarian levs)