Bulgaria’s Commission for Protection of Competition (CPC) announced on Thursday, March 18, that it approved the acquisition of Waste Solutions, the parent of waste management company Waste Solutions Bulgaria, by private investor Kiril Tarev.
The notified transaction is not expected to have an impact on any of the local markets, as the parties to the deal operate in different sectors, the antitrust body stated in its decision.
Currently, Waste Solutions is 90%-owned by private individual Anton Stratiev. The remaining 10% interest is owned by local company Antonov Eco Consult.
According to the competition authority, Kiril Tarev signed a preliminary sales agreement with Anton Stratiev on December 18, for the acquisition of 90% interest in Waste Solutions which will make it an indirect shareholder in Waste Solutions Bulgaria. The parties agreed to close the deal within a period of 90 days since the signing of the preliminary sales agreement but not before the issuing of a permit by the relevant regulator. Financial details of the agreement were not disclosed.
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