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Dec 15, 2017 13:58 EEST
SOFIA (Bulgaria), December 15 (SeeNews) – Bulgaria’s competition regulator said on Friday it has given approval to Japanese diversified group Sumitomo Corporation to acquire Bulgarian registered car dealer Moto-Pfohe from German company Hugo Pfohe for an undisclosed price.
The deal is not expected to affect competition on any segment of the Bulgarian market, the Commission for Protection of Competition (CPC) said in a statement.
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Hugo Pfohe held a 100% stake in Moto-Pfohe at end-November when the deal was announced by the Bulgarian company.
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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