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SOFIA (Bulgaria), September 17 (SeeNews) - Bulgaria's Commission for Protection of Competition (CPC) said that it has granted approval to Czech Republc-based car parts trader Auto Kelly to acquire an undisclosed stake in local company Elit Kar.
The CPC did not specify the size of the stake that Auto Kelly aims to acquire but after successful completion of the transaction deal Elit Kar will become sole owner of the Czech company's Bulgarian unit Auto Kelly Bulgaria, the anti-trust body said in a notice on Monday.
Auto Kelly will exercise control of the Bulgarian company along with private investors Zlatin Totin and Lyubomir Nachkov, who currently hold 50% of Elit Kar's capital each.
CPC's decision can be appealed by interested parties before the Sofia Administrative Court within 14 days after its publication.
Prague-based Auto Kelly is part of US-headquartered LKQ Corporation and operates a unit in Slovakia, CPC said.
Varna-based Elit Kar's main activities include trade in car parts and hospitality activities. It has a registered capital of 245,000 levs ($138,200/125,200 euro), according to data published in the Bulgarian commercial register.
(1 euro = 1.95583 levs)