November 21 (SeeNews) - Fuel retailer Eko Bulgaria, part of Greece's Hellenic Petroleum, intends to acquire assets of Bulgarian company Devon, the Commission on Protection of Competition said.
The potential deal covers a plot of land, a filling station, a retail site and a carwash located in the city of Razgrad, the Bulgarian competition authority said in a statement last week.
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Financial details of the transaction were not disclosed.
The regulator will now evaluate the potential effects of the acquisition which may have an impact on the motor fuel retail market in Bulgaria.
Eko Bulgaria entered the Bulgarian market in 2002. The company has a network of 91 filling stations under the Eko brand in the country.
Hellenic Petroleum, which is rebranding to Helleniq Energy, is exploring options to implement renewable energy projects in Southeast Europe (SEE), CEO Andreas Shiamishis told SeeNews in October. "Growth will come through a combination of organic growth and acquisitions, as well as a diversified geographic footprint, taking into account each market's maturity, regulatory framework and portfolio returns," Shiamishis said in an e-mailed interview.