The Commission on Protection of Competition has approved the transaction Bulgartransgaz EAD/ Gastrade C.A.

By Decision №38/14.01.2021, the CPC unconditionally approved the acquisition of joint control over Gastrade S.A., Greece by Bulgartransgaz EAD together with DEPA Trading S.A, Gaslog Cyprus Investments Ltd and Asimina-Eleni Copelouzou.

The notified transaction is related to the participation of Bulgartransgaz EAD in the project for a new liquefied natural gas terminal near the city of Alexandroupolis, Northern Greece, set in the updated Energy Strategy of Bulgaria until 2020 “For reliable, efficient and cleaner energy". The project has been identified by the European Commission as a project of "common interest" to Member States. The terminal is implemented in fulfillment of the priorities for building a single interconnected pan-European energy market.

In its analysis, the Commission considered that the parties to the transaction operate in different geographic markets that do not overlap and in this regard the implementation of the planned operation will not have an effect on any of the relevant markets in Bulgaria. On the basis of the assessment made, the Commission considered that the implementation of the planned transaction could not lead to significant vertical effects.

Therefore, the concentration could not rise anti-competitive effects on any market on the territory of the country and should be unconditionally approved under Art. 26, para. 1 of the LPC.

The full text of Decision №38/14.01.2021 is available in the public electronic register of the CPC at http://reg.cpc.bg/Decision.aspx?DecID=300059171.