site.btaBulgarian Stock Exchange-Sofia Acquires Bulgarian Independent Energy Exchange

Sofia, February 6 (BTA) - The Bulgarian Stock Exchange-Sofia acquires 100 per cent of the capital of the Bulgarian Independent Energy Exchange (BIEE), the stock exchange said. BIEE, which was solely owned by the Bulgarian Energy Holding, was sold for 5.2 million leva. Four million leva of the price were paid at acquisition of the capital, and the rest will be paid in three equal instalments.

Executive Director of the Bulgarian Stock Exchange-Sofia Vassil Golemanski described the acquisition as an important event that will have a positive impact on the trade with electricity in Bulgaria by ensuring greater transparency and speeding up the liberalization of the power market.

BIEE will function as a subsidiary of the Bulgarian Stock Exchange-Sofia. The two exchanges will work to expand their portfolios with new markets and services.