June 28 (SeeNews) - Bulgaria's Commission for Protection of Competition said on Friday that it has allowed local pesticides producer Agria to acquire pesticides trader Campo 2007.
The two companies operate on competitive market segments which include a large number of subsidiaries of large foreign corporations and the deal is not expected to lead to the establishment of a dominant position, the competition regulator said in its decision.
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Agria generated consolidated revenue of 109.9 million levs ($62.9 million/56.2 million euro) in 2017 and closed the year with a net profit of 15.1 million levs, according to its most recent annual financial statement.
Campo 2007 booked revenue of 10.3 million levs and a net profit of 352,000 levs in 2017. The company is 50/50 owned by local companies MMS-99 and Ambus, according to commercial register data.
Earlier this year, Agria said that it also intends to acquire Lichtenstein-based Zenith Crop Sciences.
(1 euro = 1.95583 levs)