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RNS - Arco Vara AS Initiates Exit Process from the Bulgarian Market to Refocus on Estonian Development Projects

Company: Arco Vara Date: 2025-07-22 Language: English Register to download

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 Arco Vara AS Initiates Exit Process from the Bulgarian Market to Refocus on Estonian Development Projects

# Arco Vara AS Initiates Exit Process from the Bulgarian Market to Refocus on Estonian Development Projects

After  nearly twenty years of successful business activity in the Bulgarian real
estate  market, the Management Board  of Arco Vara AS  has initiated a strategic
exit process, with the ultimate goal of a complete withdrawal from the Bulgarian
market.  The decision was  confirmed by the  company's Supervisory Board in July
2025, following  a thorough evaluation of Arco Vara's long-term strategy and the
current and future development opportunities across different markets.

The  management  has  already  launched  the  sale  process,  and  several local
Bulgarian real estate developers have expressed interest in participating in the
transaction.  Potential buyers will have the opportunity to conduct thorough due
diligence and submit their offers to acquire Arco Vara's Bulgarian operations.

According  to Kristina  Mustonen, Member  of the  Management Board of Arco Vara,
this is a well-considered and forward-looking decision.

"Exiting  Bulgaria allows  us to  focus even  more clearly  on our core market -
Estonia.  Our major project  in the Luther  Quarter, one of  the most attractive
development areas in Tallinn, requires strong leadership, focused attention, and
financing  capacity. By  freeing up  resources from  Bulgaria, we will be better
positioned  to  realise  the  growth  potential  of  our  Estonian  projects and
strengthen our position in the domestic market," commented Mustonen.

"This  decision was not made  lightly - we have  achieved significant results in
Bulgaria, built a strong team, and delivered high-quality developments we can be
proud  of. However,  from the  perspective of  Arco Vara's  long-term growth and
shareholder  value, it  is strategically  justified to  concentrate our focus on
Estonia, where the potential of our projects is greater today than ever before,"
explained Kert Keskpaik, Chairman of the Supervisory Board of Arco Vara AS.

The company will keep shareholders and the public informed about the progress of
the  exit  process  and  will  provide  further updates as transactions or other
material developments reach the next stage.

Darja Bolshakova
CFO
Arco Vara AS
\[email protected\] (mailto:\[email protected\])

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