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Bulgaria’s Recocycling Wants OK To Acquire EnerSys

 |  April 15, 2021

Bulgaria’s Recocycling is seeking the approval of the Commission for Protection of Competition (CPC) to acquire Targovishte-based former batteries manufacturer EnerSys, the antitrust regulator stated.

Following the completion of the deal, EnerSys will no longer operate in the same field as prior to the acquisition, the competition regulator said in a statement on Wednesday, April 14.

According to the regulator’s statement, Recocycling is part of a group of companies owned by private individual Dimitar Popov, which are active in different markets in the country. Considering that Recocycling and the companies in its group are not economically activity in the markets in which EnerSys has operated, the transaction is not expected to affect competition on the local market, the regulator noted.

Interested parties have until April 21 to file before the CPC any statements regarding the transaction.

In 2019, the board of directors of US-based electric battery manufacturer EnerSys approved a plan to shut down its Targovishte plant for batteries for diesel-electric submarines. The management decided that future demand for batteries of diesel-electric submarines was not sufficient given the existing number of competitors in the market, the US-based company stated at the time, adding that it intends to sell the plant.

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