Eurohold Bulgaria AD

M&A Activity • Jun 22, 2018

June 22 nd , 2018

NEWS RELEASE

Eurohold buys the remaining minority stake in Euroins Insurance Group

Financial group Eurohold Bulgaria AD has reached an agreement with South Eastern Europe Fund L.P. (SEEF), advised by Greece-based Global Finance, to buy out SEEF's entire participation in Euroins Insurance Group (EIG), which currently stands at 10.64% on a fully diluted basis.

After the finalization of the deal Eurohold will increase its share in EIG to 100% thus consolidating its ownership in all of its subsidiaries - EIG, Avto Union, Eurolease Group and Euro-Finance, operating in insurance, car sales, leasing and investment services respectively. Currently Eurohold owns 100% of the shares in Avto Union, Eurolease Group and Euro-Finance.

Eurohold's consolidated revenue rose by 18% year-on-year to BGN 1.2 billion in 2017. The net profit leapt by around 140% to BGN 24.4 million while the operating profit (EBITDA) grew by 65% on an annual basis to approximately BGN 57.6 million. The equity of the company rose by 85% y-o-y reaching BGN 215 million and the total assets increased by 17% surpassing BGN 1.33 billion.

Eurohold Bulgaria AD

Eurohold Bulgaria is one of the largest independent financial services groups in the CEE/SEE region, listed on the BSE-Sofia and the WSE. The holding company is focused on non-banking financial services and asset management. Eurohold Bulgaria is a majority shareholder of Euroins Insurance Group (EIG), one of the largest independent insurance groups operating in the CEE and SEE insurance markets. EIG operates in 8 European countries and owns insurance subsidiaries in four of them – Bulgaria, Romania, FYROM and Ukraine. The insurance group has been operating in Greece since 2014. It has over 2.5 million clients and 1600 employees. www.eurohold.bg www.eig.bg