February 27 (SeeNews) - Bulgaria's competition authority said on Monday that it is inviting third-party submissions as part of an inquiry into the proposed acquisition by Shell Bulgaria of five petrol stations owned by local company Emko-M.
The transaction, which includes convenience stores at the filling stations, may affect the retail fuel market in the country, the Commission on Protection of Competition (CPC) said in a notice published on its website, without providing further details on the notified deal.
You can subscribe to our M&A newsletter here
Submissions by interested third parties must be lodged within seven days.
Plovdiv-based Emko-M generated revenue of 1.4 million levs ($755,797/715,808 euro) in 2019 compared to 1.9 million levs in the year prior, according to its most recent annual financial statement published in the commercial register.
London-headquartered Shell has been present in Bulgaria since 1991, active in motor fuel retail, aviation fuel supply as well as oil and gas exploration and production.
In 2021, Shell Bulgaria was cleared by the CPC to lease five filling stations in southeastern Bulgaria from three local companies.
(1 euro = 1.95583 levs)