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Nov 29, 2017 17:07 EEST
SOFIA (Bulgaria), November 29 (SeeNews) – Japanese diversified group Sumitomo Corporation has acquired Bulgarian registered car dealer Moto-Pfohe from German company Hugo Pfohe for an undisclosed price, the Sofia-based company said on Wednesday.
The deal, which is still subject to approval from Bulgaria’s Commission for Protection of Competition, was signed on November 21, Moto-Pfohe said in a statement.
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Prior to the deal's completion, Hugo Pfohe holds a 100% stake in Moto-Pfohe, according to the statement.
Moto-Pfohe is the official dealer and distributor of Ford, Volvo, Jaguar and Land Rover in Bulgaria.
Moto-Pfohe, established in 1991, has a registered capital of 1.5 million levs ($907,500/766,800 euro), according to data from the country’s commercial register.
(1 euro=1.95583 levs)
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