Hristov Partners acted for Elit Car and its founders on the parallel acquisition of Auto Kelly Bulgaria Ltd. and the sale of 20% of Elit Car’s share capital to Auto Kelly a.s., an affiliate of LKQ Corporation (NASDAQ: LKQ), a global automotive spare parts conglomerate, in a complex series of interrelated cash and shares transactions. The combined business, which will continue to operate under both the Elit Car Group and Auto Kelly brand names, will be a domestic market leader. The transactions were completed on 30 September 2019 following obtaining of an unconditional phase-one merger control approval of the Bulgarian competition authority.
Elit Car Group is one of the market leading nationwide dealers of auto spare parts in Bulgaria. LKQ Corporation, Chicago, US, is a leading global provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles.