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Bulgaria's Logistic Group Invest seeks anti-trust nod to buy local unit of BAT

Bulgaria's Logistic Group Invest seeks anti-trust nod to buy local unit of BAT Source: Pixabay

SOFIA (Bulgaria), September 11 (SeeNews) - Bulgaria's Logistic Group Invest is seeking regulatory approval to buy Sofia-based Express Logistic and Distribution from tobacco producer British American Tobacco Western Europe Commercial Trading Limited, Bulgaria's anti-trust body said. 

British American Tobacco Western Europe Commercial Trading Limited is part of British American Tobacco (BAT).

The acquisition is not expected to affect competition on any market segment in Bulgaria, the competition authority said in a notice on Tuesday.

Interested parties have until September 17 to submit their positions on the deal to the regulator.

According to data published in the Bulgarian commercial register, British American Tobacco Western Europe Commercial Trading Limited holds a 100% stake in the capital of Express Logistic and Distribution.

BAT became the sole owner of Express Logistic and Distribution in May 2017.

Express Logistic and Distribution booked revenue of 1.1 billion levs ($618.6 million/562.4 million euro) in 2017, according to the company's most recent financial report available in the commercial register. 

 Express Logistic and Distribution, established in 2013, is most active in the export and import of tobacco products.

(1 euro = 1.95583 levs)

 

 

 

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