Baumax sells its Bulgarian subsidiary

The Bulgarian subsidiary of Baumax and its eight stores have been sold to local investor Haedus JSC. Haedus JSC prevailed over other bidders and will continue to operate the DIY stores in Bulgaria. Subject to approval by the Bulgarian competition authority, the sale will take place in the form of a “share deal”. The purchase price has not been disclosed. Back in July Baumax announced the sale of its Romanian subsidiary also.