Bulgaria's Malex Management gets antitrust nod to acquire Helios Projects

Bulgaria's Commission for Protection of Competition (CPC) said that it gave the green light to Sofia-based investment company Malex Management to acquire, through its majority-owned unit Helios Energy Invest, indirect shareholding interest in local solar power plant operator Helios Projects from Switzerland-based H1 Venture Swiss Holding.

The notified transaction can not harm competition on the local markets for production of, and trade in, electricity, as the parties to the deal do not have a dominant position or significant market power, the CPC said in its decision published last week.

China-based Hareon Solar Technology Corporation, which is the end owner of Helios Projects, initiated proceedings for the liquidation of assets. Helios Energy Invest was established by Malex Management with the purpose of taking part in an auction for the sale of the shares of Helios Projects. Helios Energy Invest won the auction after placing several bids, the CPC said.

According to the notification submitted by the acquiring company, the purpose of the transaction is to expand Malex Management's portfolio in the field of electricity production from renewable sources.

The regulator's decision can be challenged before Sofia Region Administrative Court by December 6.

Helios Projects has developed, built, and operates a 50 MWp photovoltaic power plant in the village of Pobeda, in Pleven Region, according to information published on the company's website.

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