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Austrian Purchase of Bulgarian Mineral Water Bottler Gets Okay

Date: 27.12.2005

Bulgaria's anti-trust body has approved the whole-shares purchase of Devin AD by Wing Equity Management GmbH.

The Austrian company wants to buy 100% stake in the Bulgaria-based mineral water bottler and distributor of non-alcoholic beverages.

Bulgarian mineral water bottling company dominates the local market with a share of 35%. Yet, the Commission for Protection of Competition ruled that the acquisition of Devin-owned market share by the Austrian buyer would not defect the local market competition.

According to the decision announced on Tuesday, the Austrian acquisition in Bulgaria will have a positive effect on the improvement of competitive climate in the country.

Devin AD was among the founders of the joint venture EcoPack Bulgaria, the country's first licensed organization for package recycling. It pooled the efforts of 18 national and foreign companies to manage ecology-friendly recycling processes of package leftovers.

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