Bulgaria's Commission for Protection of Competition (CPC) allowed Gramercy Emerging Markets Fund to acquire indirectly Business Park Sofia Ltd and Business Park Sofia 2 Ltd.

Gramercy would purchase 100 per cent of the capital of the Austrian company Lindner, Business Park Sofia's current owner, Bulgarian news agency (BTA) said.

The deal was going to be allowed as no company had monopoly over Bulgaria's office property rental market, BTA said.

CPC said that the purchase of Business Park Sofia would be harmless to the competition in the sector. The purchase would even bring a number of positive changes to the sector and would improve the quality of service in the business park.

The office property rental market was among the most dynamically developing sectors of Bulgaria's economy, BTA said. The increase in the prices made investment in the market attractive, the report said.