SOFIA (Bulgaria), July 26 (SeeNews) – Bulgaria’s competition authority said it has granted regulatory approval to Dutch-registered maintenance and engineering services provider Dietsmann to acquire Energoremont Holding [BUL:6EG].
As neither Dietsmann, nor any of its subsidiaries, operate in Bulgaria, the acquisition will not affect competition on the local market, the Commission for Protection of Competition said late on Tuesday.
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Dietsmann was founded in 1977. Its operations include maintenance services for continuous-production plant in the oil and gas, power and mining industries.
Energoremont Holding is specialized in rehabilitation, reconstruction, modernization and construction of power systems in thermal power plants, hydropower plants and nuclear power plants.
The company's shareholders include local companies Milinya 77 with 33.03%, Balgarska Energetika with 32.09%, Novi energiini i industrialni tehnologii and Geopribor with 21.59% and 10.80%, respectively.
The company generated a net loss of 12.3 million levs ($7.1 million/6.29 million euro) in 2016 on revenues of 38.2 million levs.
Energoremont Holding shares closed 14.2% higher at 3.997 levs on Tuesday.
(1 euro = 1.95583 levs)