December 3 (SeeNews) - Motor vehicles trader M Trucks Bulgaria is seeking antitrust clearance for the acquisition of Star Motors, an official importer of Mazda automobiles for the markets in Bulgaria and North Macedonia, the competition authority in Sofia said.
Interested parties have until December 7 to file their statements regarding the notified transaction, Bulgaria's Commission for Protection of Competition (CPC) said in a statement earlier this week.
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Last month, Bulgarian automotive holding company Avto Union [BUL:8AVB], part of financial and energy group Eurohold Bulgaria [BUL:EUBG], said that it signed a preliminary contract for the sale of its subsidiary Star Motors to M Trucks Bulgaria, a company with extensive experience in the sale and maintenance of motor vehicles and an official importer of MAN trucks for Bulgaria.
The deal is part of Eurohold's development strategy, which envisages the sale of the group's automotive and leasing business and focusing on its energy and insurance business after the acquisition of the local assets of Czech energy group CEZ for 335 million euro ($378.3 million) earlier this year.
Earlier in 2021, the CPC gave the green light to local pharmaceuticals distributor Bulpharma to acquire a 100% stake in automotive dealer N Auto Sofia from Avto Union.
Star Motors, founded in 2000, has its own and pre-authorised sales and service centers in nine cities in Bulgaria and a car dealership with a service center in North Macedonia's Skopje.
($ = 0.88544 euro)