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Bulgarian Watchdog OKs Danethill Investment Deal For Unilink

 |  June 18, 2023

The Bulgarian competition authority approved the acquisition of Unilink and its subsidiaries by Danethill Investment without any conditions on Friday.

The Commission on Protection of Competition (CCP) stated that the transaction in question would not have an adverse impact on competition within the insurance product distribution market in Bulgaria, as the concerned parties do not engage in competitive activities within the country.

Unilink has complete ownership of Unilink Bulgaria and holds an 80% stake in I&G Insurance Brokers in Bulgaria. Additionally, Unilink holds a 96% stake in Finance Market through its indirect ownership of I&G Insurance Brokers.

According to the CPC, I&G Insurance Brokers holds a 6.94% market share in Bulgaria’s insurance product distribution market, while Unilink Bulgaria and Finance Market are inactive. The deal with Danethill Investment is not anticipated to alter I&G’s market position in Bulgaria.