Company close to Chimimport cleared to buy stake in Baumax: Capital Daily Rodna Zemya Holding, linked to Chimimport, has received a nod from the Commission on Protection of Competition (CPC) to acquire part of do-it-yourself (DIY) stores operator Baumax Bulgaria. Three parties will participate in the concentration - Rodna Zemya Holding, Apostol Apostolov (chairman of Texim Bank’s supervisory board) and current Baumax Bulgaria owner Peyo Nikolov. The latter is currently in control of 99.2% of Baumax Bulgaria via his company Haedus. Back in the fall of 2014, Haedus acquired Baumax Bulgaria from its Austrian owners.
Source: Capital (27.01.2015)

Erste Group Immorent sells its business in Bulgaria to Teximbank Erste Group Immorent is selling its business in Bulgaria to Teximbank, which is related to owners of the public holding Chimimport. Not only the portfolio which is composed by assets assessed to more than BGN 91 million towards the end of 2014, but the all operations of the company will be transferred as well. The company is engaged in sale of real estate on leasing. The price of the deal is not disclosed. Based in Vienna Erste Group Immorent has been preparing its exit of the Bulgarian market for more than a year now, as in the beginning negotiations with the potential buyers were lead solely for its portfolio, composed of properties that are already built or that are acquired on leasing. Afterwards decision for sale of the entire company has been made. Last year interest for its purchase was expressed by two of the large banks on the market. Teximbank’s breakthrough in the deal is quite a surprise, as it is one of the smallest banks in Bulgaria with assets assessed at BGN 161.8 million towards the end of the first six months of the year. As turnover of the two companies that are subject to the deal do not go over BGN 25 million, the Commission for financial supervision should not be notified prior the transfer. At present a 14-day term in which all stakeholders may issue complaints against the deal is on. After its end the deal might be completed. Last year Erste Group Immorent Bulgaria was ranked third in terms of revenues among leasing companies with BGN 47.7 million and 11th in assets with BGN 104.5 million.
Source: Capital (08.09.2015)