February 26 (SeeNews) - Bulgarian transport services company Transpekt became the sole owner of local bus company Union Ivkoni after acquiring the remaining 49% minority interest from private investor Ivaylo Konstantinov earlier this month, commercial register data shows.
Transpekt completed the acquisition of a 51% stake in Union Ivkoni from local diversified group Synthetica on January 30, according to commercial register data.
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Transpekt financed the deal through two loans from state-owned Bulgarian Development Bank with a total face value of 41.1 million euro ($46.7 million). Transpekt pledged its take in Union Ivkoni as collateral.
In October last year, Transpekt received approval from Bulgaria's Commission for Protection of Competition to acquire local bus companies Union Ivkoni and Grup Plus.
Grup Plus is currently a wholly-owned subsidiary of local Etap-Adress.
Transpekt has a registered capital of 50,000 levs, equally divided between two private individuals - Petar Gospodinov and Georgi Atanasov.
($ = 0.8798 euro)