Follow-up: Bulgarian Commission for Protection of Competition blocks key transaction initially found not to constitute a concentration* In 2016, the Bulgarian Commission for Protection of Competition (“BCPC”) was notified for the intention of two of the biggest Bulgarian companies operating on the market of the manufacturing, repair and trade of defence-related products to merge. EMKO Ltd. aimed to acquire direct and sole control over Dunarit JSC by means of purchasing newly issued shares of the company’s capital. With its decision BCPC initially found that the notified transaction did not constitute a concentration by means of Art. 24, para. 1 of the Bulgarian Competition Protection Act (“BCPA”) and therefore was not subject to mandatory clearance [1]. This decision subsequently faced
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The Bulgarian Competition Authority reviews its analysis and blocks a transaction initially not found to constitute a merger in the manufacturing of defence-related products sector (EMKO)
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