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SOFIA (Bulgaria), August 19 (SeeNews) - Bulgaria's Commission for Protection of Competition said that it has granted approval to local diversified group Rodna Zemya Holding [BUL:6R2] to acquire 100% of Sofia-based fast-moving consumer goods retail chain HIT Hypermarket.
Rodna Zemya Holding and HIT Hypermarket are not active on the same market segments so the acquisition will not lead to the establishment of a dominant market position, the competition regulator said in its decision, published last week.
Earlier this month, Rodna Zemya Holding raised some 36 million levs ($20.6 million/18.4 million euro) via a capital increase.
HIT entered the Bulgarian market in 2004. It operates two stores in Sofia, offering a range of food and non-food products.
(1 euro = 1.95583 levs)