June 18 (SeeNews) - Bulgaria's competition regulator said that it has issued approval to car dealerships Sofia Auto Bulgaria and Bulvaria Holding to set up a joint venture (JV) company for sales and service of Opel cars.
The joint venture - Sofia Auto Bulvaria, will have a registered capital of 500,000 levs ($297,000/255,600 euro), distributed in 50,000 shares with a nominal value of 10 levs each, the Commission for Protection of Competition (CPC) said in a statement on Friday.
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None of the interested parties active in the sales of cars and car parts in Bulgaria, which the CPC asked to express their opinion, had any concerns about the effect of the JV on competition on the segment, the competition authority noted.
The joint venture will be active in the import and sale of cars under the Opel brand and spare parts for them, as well as in the provision of repair services.
Sofia Auto Bulgaria and Bulvaria Holding will discontinue offering those services.
(1 euro = 1.95583 levs)