April 24 (SeeNews) - Bulgaria's Commission for Protection of Competition said on Friday that local company Paper Invest is seeking approval to acquire Bulgaria's largest bleached kraft pulp producer - Svilocell.
Paper Invest currently has no operations and is fully owned by Cyprus-registered Kameran Financial, according to commercial register data. Svilocell is a wholly-owned unit of Bulgaria's Svilosa.
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Interested parties have until May 1 to send their statements regarding the transaction to the regulator, according to a notice published on its website.
Svilocell generated revenue of 152.5 million levs ($84.2 million/78 million euro) and a net profit of 31.1 million levs in 2018, according to its most recent annual financial statement.
(1 euro = 1.95583 levs)