Rompetrol Bulgaria Seeks Regulatory Nod to Acquire Synergon Petroleum
Bulgaria's competition regulator said on Thursday that fuel retailer Rompetrol Bulgaria is seeking approval to acquire local peer Synergon Petroleum for an undisclosed price.
The deal is expected to affect the fuel retail market segment in Bulgaria, according to a statement, published on the website of the Commission for Protection of Competition.
Rompetrol Bulgaria is part of Romania-headquartered KMG International Group. Rompetrol Bulgaria has 54 filling stations in the country. KMG International Group is a wholly owned subsidiary of Kazakhstan's KazMunayGas.
Synergon Petroleum is a wholly owned subsidiary of Bulgarian diversified group Synergon Holding [BUL:6S7]. Synergon Holding owns directly a 24.9% stake in Synergon Petroleum, and a 75.1% stake indirectly, through its unit - building materials retailer Toplivo [BUL:3TV].