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Eurolease Group seeks antitrust nod to buy Mogo Bulgaria

Eurolease Group seeks antitrust nod to buy Mogo Bulgaria Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), September 17 (SeeNews) - Bulgaria's competition regulator said on Friday that local leasing group Eurolease Group is seeking approval for the acquisition of 100% interest in car leasing company Mogo Bulgaria from Luxemburg-based Mogo Finance.

The transaction is expected to influence the market for motor vehicle leasing in Bulgaria, the Commission for Protection of Competition (CPC) said in a statement.

Following the completion of the deal, Mogo Finance will cease to operate on the Bulgarian financial services market, the regulator also said.

Interested parties have until September 24 to submit to the CPC their statements regarding the deal.

Sofia-based Eurolease Group owns several subsidiaries active on the motor vehicle leasing market. Eurolease Group's activity is almost entirely focused on the Bulgarian market, with the exception of the company's office in North Macedonia.

Eurolease Group is part of financial and insurance group Eurohold Bulgaria [BUL:EUBG].

Earlier this year, Eurohold finalised the acquisition, through its Dutch-based wholly-owned unit Eastern European Electric Company B.V. (EEEC), of 67% interest in power grid operator CEZ Distribution Bulgaria and power supplier CEZ Electro Bulgaria from Czech energy group CEZ, as well as 100% of the shares of licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group, and CEZ Bulgaria, the coordinator of CEZ Group’s units in Bulgaria.

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