Alpha Partners Bulgaria has been cleared to acquire KT International, a Bulgarian tobacco grower and cigarette producer, reports SeeNews.
The acquisition will not cause notable horizontal or vertical overlaps that could curb competition or lead to a dominant position in relevant markets, according to the Commission on Protection of Competition.
The value of the acquisition was not disclosed. KT International’s registered capital amounts to $2.8 million.
KT International is the only tobacco products manufacturer that sells on the Bulgarian market. Competitors export all of their products. Between May 2021 and May 2023, KT International held a 5 percent to 10 percent share in the Bulgarian cigarette distribution market.