Bulgaria’s competition regulator said it has granted approval to Belgian mineral water producer Spadel to acquire Advent International’s 93.29% stake in Bulgarian mineral water bottling company Devin.
Since Spadel does not currently have operations in Bulgaria, the deal will not have horizontal or vertical effects on the local mineral water market, the Commission for Protection of Competition said in a statement on Wednesday.
“The transaction values Devin at 120 million euro Enterprise Value,” US-based Advent International said in a statement on its website in December.
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