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31-01-2018 - Information by BSE-Sofia (Press release by BSE-Sofia)

On 31 January 2018 the Bulgarian Stock Exchange - Sofia AD (BSE, the Exchange) received a letter from Bulgarian Energy Holding EAD (BEH), informing the company of an official notification by the European Commission (EC, the Commission). By Decision C (2018) 527 final of 26 January 2018, the Commission confirms that Bulgarian Stock Exchange - Sofia AD is a suitable buyer for the Independent Bulgarian Energy Exchange EAD (IBEX) because:
- BSE has the financial means, expertise and motivation to develop IBEX as an independent and competitive energy market;
- As a market operator with more than twenty years of history in maintaining and utilising market infrastructure, BSE has experience in operating a trading platform and IT services and a framework for expanding its products;
- The Exchange is licensed by the Financial Supervision Commission and is subject to European and national financial market legislation.
In view of the aforementioned, the European Commission approves the Bulgarian Stock Exchange - Sofia AD as a buyer of IBEX.
The Commission's decision was the last mandatory requirement for the entry into force of the Purchase agreement for transferring the shares of IBEX between BEH and BSE-Sofia.
The next step includes payment of the agreed initial amount and establishment of an unconditional revolving bank guarantee for the deferred portion of the purchase price. The shares of Independent Bulgarian Energy Exchange EAD will then be transferred to BSE-Sofia AD, which will finalise the acquisition process.