Bulgaria, Acquisition of Grand Energy Distribution approved by CPC

, SEE Energy News

Bulgarian Commission for the Protection of Competition (CPC) approved the acquisition of electricity trader Grand Energy Distribution by local company Stoimenov Trading.

The statement from the CPC said that the transaction will not affect trade in electricity in Bulgaria as only Grand Energy Distribution operates on the local market, while Stoimenov Trading, which was established earlier this year,
has been inactive so far.

Through the acquisition, Stoimenov Trading aims to continue the activities of Grand Energy Distribution by using the know-how, licenses, permits, client portfolio, and expertise of the acquired company.

Stoimenov Trading has been established in May 2021 and is 100 % оwned by Stanislav Stoimenov and lists construction, installation and repair of energy equipment among its potential areas of activity.

Grand Energy Distribution has over ten years of experience in electricity trading and end-customer service. According to data from the CPC, the company’s revenues in 2020 amounted to 370 million euros.