Bulgaria's Anti-Trust Regulator Opens Probe into Agria Group Holding's Buy of Kehlibar

Bulgaria's Anti-Trust Regulator Opens Probe into Agria Group Holding's Buy of Kehlibar

Bulgaria's competition regulator said that it is opening proceedings in relation to a deal from 2016 in which Agria Group Holding's acquired 100% of local company Kehlibar.
The regulator was not notified of the transaction, despite the fact that, according to data from the two companies' annual financial statements for 2015, the combined turnover of Agria Group Holding and Kehlibar exceeds the threshold which makes anti-trust clearance mandatory, the Commission for Protection of Competition said in a statement on Friday.
Agria Group Holding's total consolidated turnover amounted to 114.2 million levs ($66.4 million/58.4 million euro) in 2015, while Kehlibar posted turnover of 39.6 million levs.
Under Bulgarian competition law, concentration is subject to mandatory prior notification to the competition authority when the combined turnover of all companies participating in the concentration in Bulgaria in the preceding financial year exceeds 25 million levs.

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