September 28 (SeeNews) - Bulgarian express delivery company Speedy [BUL:0SP] has filed for approval to acquire assets of Sofia-registered Vienna Real Estate [BUL:VREA], the country's competition regulator has said.
The deal is not expected to affect the relevant markets in the country, according to an announcement posted on the website of the Commission for Protection of Competition.
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"At this stage, the deal has not been finalized," Speedy investor relations manager, Krasimir Tahchiev, told SeeNews in an e-mailed statement on Wednesday.
He declined to disclose details of the planned acquisition.
According to local newspaper Capital, Speedy plans to buy the logistic base of road haulier SOMAT in southeastern Sofia, in part of which Speedy operates under lease. Speedy also plans to establish a joint venture, in which it will hold a stake of 76%, for the remaining space in the logistic park, Capital reported on Tuesday.
The SOMAT logistic base is valued at 63.5 million levs ($36.4 million/32.5 million euro), according to the 2015 financial statement of Vienna Real Estate.
Speedy says it handles around 10 million shipments annually and has a market share of around 32%. The Sofia-based parcel delivery company is 66%-owned by its CEO Valeri Mektupchian, who founded it in 1998, while French courier firm GeoPost holds a 25% stake.
(1 euro = 1.95583 levs)