Bulgarian fuel retailer Uni Energy has received approval from the Bulgarian competition authority to acquire NIS Petrol Bulgaria, which operates under the Gazprom brand, the regulator said Thursday.
The market positions of the parties involved would not hinder effective competition, nor create or strengthen a dominant market position, the Commission on Protection of Competition (CPC) said in a statement. CPC added that the warehouse assets of Nis Petrol are limited compared to other market participants and are used solely for internal logistical and operational needs.
“A significant number of competitors are active on the analyzed market at national and regional levels, who are able to exert effective competitive pressure on the new group,” CPC noted.
Uni Energy sought approval from the competition regulator to acquire NIS Petrol Bulgaria in August.
Earlier this year, NIS Petrol Bulgaria’s parent company, Serbia’s Russian-controlled oil and gas producer NIS, said its board of directors approved the sale of the subsidiary as it continues to struggle with its downstream operations in the country.
NIS Petrol Bulgaria operates 23 petrol stations in the country, according to company information.
Sofia-based Uni Energy, founded in 2007, is active in the trade of solid and liquid fuels, petroleum products, lubricants and oils, as well as construction, operation and management of petrol stations, among others, commercial register data shows.
Source: SeeNews
