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Bulgaria's New Capital Management seeks antitrust nod to buy Olimex

Jun 14, 2024, 12:05:43 PMArticle by Mihaela Miteva
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June 14 (SeeNews) - Bulgarian diversified group New Capital Management has filed for approval by the competition authority for its planned acquisition of local sunflower seed and oil producer Olimex, the regulator said on Friday.

Bulgaria's New Capital Management seeks antitrust nod to buy Olimex
Sunflower oil Source: freepik.com

The notified transaction is expected to impact the national market for the trade of sunflower seeds, oils and related by-products, the Commission on Protection of Competition (CPC) said in a statement, without disclosing details of the deal.

Interested third parties can submit comments on the transaction in the next seven days, the CPC added.

Founded in 2019, New Capital Management owns local real estate company Varna View Residence and grains and oilseeds trader Agrix Bulgaria, commercial register data show. It also holds a 50% stake in renewable energy producer Agrix Solar.

Vidin-based Olimex, founded in 1995, specialises in purchasing sunflower seeds, processing and producing peeled sunflower seeds, as well as producing unrefined and refined sunflower oils and by-products.

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