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Bulgaria's Synergon Holding wraps up acquisition of V-Gas Bulgaria

Author Mario Tanev
Bulgaria's Synergon Holding wraps up acquisition of V-Gas Bulgaria Photo: V-Gas Bulgaria / All rights reserved.

SOFIA (Bulgaria), June 3 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Monday that it has completed the acquisition of liquefied petroleum gas (LPG) retailer V-Gas Bulgaria from local company Erast.

V-Gas Bulgaria has a registered capital of 3 million levs ($1.7 million/1.5 million euro), Synergon Holding said in a bourse filing.

The price of the transaction was not disclosed.

V-Gas Bulgaria generated sales revenue of 97.9 million levs in 2017, up from 73.9 million levs the year before. The company ended 2017 with a net profit of 753,000 levs, which compares to 305,000 levs in 2016.

Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.

(1 euro = 1.95583 levs)

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