AG Capital has requested permission from the Commission for the Protection of Competition (CPC) to acquire sole control over “Poligrafia Office Center” in Sofia. The complex is located on “Tsarigradsko Shosse” Blvd. and was known until years ago as the Polytrafiksia Kombinat.
Currently, the asset is part of the portfolio of Lion’s Head Investments – a joint venture between AG Capital and the South African investor Old Mutual. If the CPC approves the concentration, AG Capital will move from joint to sole control over the office complex.
The antimonopoly regulator indicates that the deal may have a bearing on the office space rental market in Sofia. Third parties have seven days to submit written opinions on the planned concentration.
„Poligrafia Office Center“ offers about 27,000 sq. m of office space. Among the tenants are Bosch, EY and Payhawk, and the building has a LEED Gold certificate for sustainable construction and operation.
The history of ownership of the complex goes through several stages. In 2017, AG Capital acquired control of the property, and in 2018, the CPC allowed the group and OMP Investment Company, affiliated with Old Mutual, to exercise joint control over „Poligrafia Office Center“.
The second phase of the project was completed in the same year. Earlier data on the complex indicate that its development includes both the reconstruction of the historic building and the construction of new office space.
The CPC is yet to assess whether the concentration could limit effective competition in the office space market in the capital.
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