CBA Asset Management Selling Supermarket Business

CBA Asset Management Selling Supermarket Business

Bulgaria's CBA Asset Management said it is selling its wholly-owned supermarket operator CBA Trade.

The price of the deal was determined following a capital evaluation, CBA Asset Management said in a bourse filing.

The decision for the sale was entered into the Bulgarian Trade Register on March 13, it added.

Later in the day Sofia-based business news portal investor.bg reported, quoting a request for the registration of the deal with the Trade Registry, that  the buyer is local company Korekta-A and that the price has been set at 1.0 lev ($0.71/0.51 euro). CBA Trade's capital has been estimated at a negative 4.7 million levs, investor.bg.added.

CBA Bulgaria was established in 2003. According to data published on its website, it operated 27 stores at the end of 2013.

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