SOFIA (Bulgaria), May 17 (SeeNews) – Bulgaria’s Leasing Finance has filed for regulatory approval to acquire 100% of local peer TBI Rent, the competition authority said on Wednesday.
The deal is expected to have an effect on the local operating and financial leasing markets, the Commission for Protection of Competition said in a statement posted on its website.
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Under Bulgarian competition law, concentrations are subject to mandatory prior notification to the commission where the aggregate combined turnover of all undertakings participating in the concentration in Bulgaria in the preceding financial year exceeds 25 million levs ($13.9 million/12.8 million euro).
The concentration must also fulfil one of the following two conditions: either the turnover in Bulgaria of each of at least two of the undertakings participating in the concentration during the preceding financial year should exceed 3 million levs, or the turnover in Bulgaria of the undertaking – subject to acquisition should exceed 3 million levs during the preceding fiscal year.
Sofia-based TBI Rent has a registered capital of 2.3 million levs, according to the country’s commercial register.
(1 euro = 1.95583 levs)