Eurohold Bulgaria AD

M&A Activity • Nov 16, 2021

NEWS RELEASE

Eurohold's Auto Holding Signed a Preliminary Contract for the Sale of Mazda Importer

Sofia, 16 November 2021 - Eurohold Bulgaria AD's unit - Avto Union AD, the largest Bulgarian auto holding, signed a preliminary agreement for the sale of its subsidiary Star Motors EOOD, an official importer of Mazda cars in Bulgaria and Republic of North Macedonia.

The buyer is M Tracks Bulgaria EOOD which has solid experience in the sales and service of motor vehicles and is an importer of MAN trucks in Bulgaria.

The documents for the forthcoming concentration have already been submitted to the Commission for Protection of Competition and an approval is being expected.

Star Motors EOOD was founded in 2000 and is a major importer of Mazda cars on the territory of Bulgaria and Republic of North Macedonia. The company has own and pre-authorized sales and after sales centers in 9 Bulgarian cities as well as a showroom along with a service centre in Skopje.

The deal is part of Eurohold's development strategy that provides for the sale of the automobile and leasing business and focuses on the insurance and energy business lines after the acquisition of CEZ Group's subsidiaries in Bulgaria. In June Avto Union sold its subsidiary N Auto Sofia EAD, the main dealer of Nissan vehicles in Bulgaria and a majority shareholder of Espace Auto, the largest local distributor of Renault and Dacia cars.

Avto Union AD and Eurohold Bulgaria AD

Avto Union AD is the holding company incorporating Eurohold Bulgaria AD's investments in the auto sector. It offers to the Bulgarian market 9 car brands, 3 brands of scooters and motorcycles, 4 brands of oils, lubricants, liquids and 1 brand offering fuel payment solutions. Among the prominent car brands it sells are: Ferrari, Fiat, Alfa Romeo, Lancia, Maserati, Opel, Mazda. Eurohold Bulgaria AD is a leading financial and energy group, operating in the CESEE and FSU region in the area of electricity distribution, supply and trade, insurance, leasing, car sales, investment services and asset management. It is listed on the BSE and the WSE. Еurohold serves over 7 million customers and employs more than 6000 people in 14 countries. Eurohold owns Euroins Insurance Group (EIG) AD, one of the largest independent insurance groups operating in the CESEE and FSU markets. The company provides a full range of insurance products in the area of general, health and life insurance. Bulgaria-based group operates in 13 European countries and owns insurance subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine, Georgia, Russia and Belarus. EIG also operates in Greece and Poland, and has niche insurance operations in Spain, Italy, Germany and the United Kingdom. Currently the insurance group has more than 4 million clients and over 3000 employees.

www.eig.bg www.eurohold.bg www.avtounion.bg