site.btaCompetition Protection Commission Allows Bulgarian American Credit Bank to Buy Tokuda Bank

The Commission on Protection of Competition (CPC) cleared the acquisition by the Bulgarian American Credit Bank (BACB) of direct sole control over Tokuda Bank AD. The announcement was published Thursday on the website of the Bulgarian Stock Exchange. 

The CPC's decision was issued in connection with BACB's intention to acquire 99.94% of the capital of Tokuda Bank. 

On April 16, through the website of the Stock Exchange, BACB announced an agreement reached with Tokushukai Inc. as the seller for the purchase of 99.94% of the capital of Tokuda Bank. 

The transaction was then conditional upon receipt of all necessary regulatory approvals and clearances from the competent authorities, one of which is the clearance from the CPC.