A PYMNTS Company

Bulgarian Watchdog Probes Oqema’s Deal For Romania’s Stera Chemicals

By  |  January 12, 2023

The Bulgarian competition authority said it has launched an enquiry into the potential acquisition of Romania’s Stera Chemicals by German chemical distribution group Oqema.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The planned transaction, which was notified in December last year, is expected to affect the Bulgarian market for base and specialty chemicals distribution, the Commission on the Protection of Competition (CPC) said on Wednesday, without providing further details.

    Related: Bulgarian Development Bank Gets Watchdog’s OK To Absorb BDB Factoring

    Based in Moenchengladbach, Oqema, formerly Overlack, has a subsidiary in Bulgaria. The group is among the ten largest European chemical distributors and booked turnover of 1.3 billion euro ($1.4 billion) last year, with over 1,300 staff at 45 locations in 21 countries, according to its website.

    Founded in 1999, Stera Chemicals is one of the market leaders in the distribution of chemical raw materials, operating in several industries, including varnishes and paints, cosmetics and detergents, rubber, constructions, plastics, food, water treatment and agriculture. Stera Chemicals aimed to more than triple its turnover in 2021 to 45 million euro, an earlier statement showed.