Eurohold Bulgaria AD

M&A Activity • Jun 28, 2021

NEWS RELEASE

Eurohold's auto holding agreed to sell the dealer of Nissan, Renault and Dacia auto brands in Bulgaria

Sofia, 28 June 2021 - Avto Union AD, the largest Bulgarian auto holding, incorporating Eurohold Bulgaria's investments in the sector, signed a preliminary contract for the sale of its subsidiary N Auto Sofia EAD to Bulpharma OOD, a leading investor in healthcare services.

The deal has to be approved by the Commission for Protection of Competition, the Bulgarian competition authority. The documents have already been submitted to the regulator.

N Auto Sofia EAD is the main dealer of Nissan vehicles in Bulgaria and controls 51% of Espace Auto, the largest local distributor of Renault and Dacia auto brands. The company also owns 51% оf EA Properties OOD that possesses the land and the showroom of Nissan, Renault and Dacia auto brands in Sofia.

Avto Union AD has nearly 12% share of new car sales in Bulgaria. It owns importers and dealers of 18 auto and motorcycle brands in Bulgaria, 26 authorized and trusted after sales service centers, 4 motor oil brands and lubricants, as well as a brand solution for sales of fuels with discount and with deferred payment. Among the most famous auto brands that Avto Union sells are Fiat, Alfa Romeo, Lancia, Maserati, Opel, Chevrolet, Mazda, Nissan, Renault and Dacia.

The deal is part of Eurohold's development strategy that provides for the sale of the automobile and leasing business and focus on the insurance and energy business lines.

Eurohold Bulgaria AD

Eurohold Bulgaria is a leading independent business group in the CEE/SEE/CIS region. It is operating in the field of insurance, leasing, car sales, investment services and asset management. Eurohold is listed on the BSE and the WSE. Eurohold owns Euroins Insurance Group (EIG), one of the largest independent insurance groups in the CEE/SEE/CIS region, which operates in 11 countries and has subsidiaries in Bulgaria, Romania, the Republic of North Macedonia, Ukraine, Georgia, Russia and Belarus. EIG also operates in Greece and Poland, and has niche insurance operations in Spain and Italy. Currently the insurance group has more than 4 million clients and over 3000 employees. www.eurohold.bg www.eig.bg