Bulgarian Stock Exchange - Sofia Bought 100% of the Capital of the Bulgarian Independent Energy Exchange

Business » FINANCE | February 6, 2018, Tuesday // 10:54| Views: | Comments: 0
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Bulgaria: Bulgarian Stock Exchange - Sofia Bought 100% of the Capital of the Bulgarian Independent Energy Exchange pixabay.com

The Bulgarian Stock Exchange - Sofia acquired 100% of the capital of the Bulgarian Independent Energy Exchange (BENE).

The value of the transaction between BSE-Sofia and Bulgarian Energy Holding (BEH) is BGN 5.2 million. BEH was the sole owner of the Energy Exchange. BGN 4 million of the price is paid upon the acquisition of the shares, the remaining BGN 1.2 million will be transferred in three equal parts within the sixth, twelfth and eighteenth months of the transfer of the capital.

"This is a significant moment that will positively affect the electricity trade in Bulgaria, leading to greater transparency and speeding up the process of liberalization of this market. We are convinced that with our serious experience in organizing regulated trade and as a public company we will contribute to the sustainable development of the Energy Exchange in Bulgaria, "said Vassil Golemanski, Executive Director of BSE-Sofia.

The plans are for the two organizations to work together to expand the portfolio by introducing new markets and services.

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