Peugeot importer Sofia France Auto gets nod to take over BMW dealer

Sofia France Auto is cleared to buy Kamor Auto, wholly-owned by Sofia-based trade company Mandate, and its entire capital amounting to 8,000 levs ($5,280/4,100 euro), the Commission for Protection of Competition (CPC) said in a statement on Friday.

Last year, Sofia France Auto had a market share of 4.4% while that of Kamor Auto was 2.3%, meaning the combined market footprint of the two entities will not exceed the 15% threshold needed to have a dominant position, CPC said.

The acquisition would allow Sofia France Auto to enter new markets and expand its product portfolio, the statement added.

(1 euro=1.95583 Bulgarian levs)