SOFIA (Bulgaria), January 25 (SeeNews) – Bulgarian media company Nova Broadcasting Group, part of Stockholm-based international entertainment group Modern Times Group (MTG), said on Wednesday it has acquired a 20% stake in Sofia-based online grocer eBag.bg.
The transaction is in line with the strategy of the media company for investments in digital transformation and innovative business solutions on the Bulgarian market, Nova Broadcasting Company said in a press release.
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"We are developing well and this allows us to continuously invest in motivated and successful young Bulgarian entrepreneurs because we believe in their potential," the CEO of Nova Broadcasting Group, Didier Stoessel, said in the statement.
eBag.bg was established by Bulgarian entrepreneur Ivan Aleksandrov two years ago and is the biggest online grocery in the capital Sofia. The company offers more than 15,000 products and aims to expand outside the capital, Nova Broadcasting Group said.
In the beginning of 2016, Nova Broadcasting Group acquired a 51% stake in deal-of-the-day platform Grabo.bg and online fashion retailer Trendo.bg. Since June 2016, Nova Broadcasting has been the owner of a 20% stake in Broshura.bg, an online platform for shopping brochures.