The European Commission (EC) approved the proposed acquisition of the Independent Bulgarian Energy Exchange (IBEX) by the Bulgarian Stock Exchange (BSE).
In August 2017, BSE announced that it has reached an agreement with state-owned Bulgarian Energy Holding (BEH) on the acquisition of IBEX for 2.7 million euros. BSE will make an initial down payment of 2 million euros, while the remaining 700,000 euros will be paid in three semiannual installments. The shareholders also approved a proposal to finance the acquisition through proceeds from the sale of government securities which the BSE owns.
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Tags: acquisition, BSE, Bulgaria, electricity, electricity exchange, IBEX