January 5 (SeeNews) - Bulgarian leasing company M Rent has received unconditional clearance to acquire local company Eurolease - Rent A Car, part of Eurolease Group, the competition authority said.
There are no administrative, legal and economic barriers for the entry of new players on the operating lease market in Bulgaria, the Commission on Protection of Competition said in a final ruling published on Wednesday.
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The deal was notified to the CPC in November last year. Eurolease - Rent A Car offers short- and long-term car rental services, including technical support for clients on long-term rental contacts. Eurolease Group was sold by Eurohold Bulgaria [BUL:EUBG] to Asterion Bulgaria in the summer of 2022.
M Rent, previously known as TBI Rent, was taken over in 2017 by Bulgaria’s Leasing Finance, which is behind 14 companies including Web Media Group, Aircraft Lease and Dream Air. Leasing Finance is under the indirect majority ownership of Bulfinance Investment, which is itself controlled by Bulgarian private firm Next Generation Consult.