Bulgarian company Videolux Holding has signed a preliminary agreement with German do-it-yourself (DIY) retailer Praktiker Group to acquire its operations in Bulgaria.
The deal is expected to be closed after its obtains approval from the country's competition regulator, Videolux Holding said in a press release. The value of the deal was not disclosed.
Videolux Holding, in a joint venture with Germany's Lindner, operates a chain of 31 hypermarkets under the consumer electronics retail brand Technopolis.
In Bulgaria Praktiker has nine DIY hyperstores and employs 567.