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SOFIA (Bulgaria), September 19 (SeeNews) - Bulgaria's Commission for Protection of Competition said that it has granted approval to Zavodski Stroezhi - PS - Pazardzhik to acquire a majority stake in local company Patishta.
Under the terms of the deal, Zavodski Stroezhi - PS - Pazardzhik will acquire at least 90% interest in Patishta, the competition regulator said in a statement on Wednesday.
The deal does not have the potential to lead to the establishment or strengthening of a dominant market position, as the two companies are active on different segments of the market. Zavodski Stroezhi - PS - Pazardzhik mainly engages in the construction of buildings, while Patishta specialises in road construction.
Zavodski Stroezhi - PS - Pazardzhik is a wholly-owned unit of Bulgaria's Bulpharma.