September 24 (SeeNews) - Bulgaria's antitrust regulator said on Thursday that colors and glazes producer Pigments Spain is seeking its approval to acquire the tile coatings business of US-based coatings and color solutions company Ferro Corporation.
Local market segments which could be affected by the transaction are the production of frits and glazes, as well as the production of colors for decoration of glazed tiles, a notice published on the regulator's website reads.
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Interested parties have until October 1 to submit their statements regarding the transaction to the regulator.
In December 2019, Ferro Corporation said that it has entered into a definitive agreement to sell its tile coatings business to Pigments Spain for $460 million (395 million euro) in cash, with the potential for an additional $32 million in cash based on the performance of the business pre-closing.
($ = 0.8586 euro)