Bulgaria's competition authority said that it granted approval to building materials producer Holcim Bulgaria to become sole owner of local concrete products manufacturer Transport Stroy.
The notified transaction will not have anti-competitive effects nor will it lead to impeding effective competition, by establishing or strengthening of a dominant position in particular, the Commission for Protection of Competition (CPC) said in a statement last week.
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Transport Stroy is currently under the joint control of Holcim Bulgaria and private individual Tanya Nenkova, according to the CPC.
The planned deal aims to boost management efficiency and reduce managerial costs.
The CPC's decision can be challenged before Sofia Region Administratie Court within 14 days of its publication.
Sofia-based Transport Stroy, established in 1994, is specialised in the production of concrete solutions, construction mortars, reinforced concrete construction elements, and other items made of concrete. The company has two concrete production plants located in Sofia.
Holcim Bulgaria is part of Swiss-based global building materials and aggregates company Holcim.