Arco Vara — M&A Activity 2026

Mar 13, 2026

Arco Vara AS Signs Share Purchase Agreement for Partial Sale of Bulgarian Subsidiary

Arco Vara AS Signs Share Purchase Agreement for Partial Sale of Bulgarian Subsidiary

Arco Vara AS has entered into a share purchase agreement with the Bulgarian
company Kamaleo Invest OOD, under which a 25% holding in the Bulgarian company
Botanica Lozen EOOD, which is developing the Botanica Lozen residential project
in Sofia, will be sold.

Under the agreement, Kamaleo Invest OOD will acquire shares representing 25% of
the share capital of Botanica Lozen EOOD for a total purchase price of EUR
2,200,000. According to the agreement, EUR 1,000,000 will be paid as a deposit
within three business days after the signing of the agreement, and the remaining
amount will be paid upon completion of the transaction.

Completion of the transaction is subject to the fulfilment of customary
conditions precedent, including the conversion of shareholder loans granted by
Arco Vara AS to Botanica Lozen EOOD into equity through an increase of the
company's share capital. The transaction is planned to be completed no later
than 29 May 2026.

Upon completion of the transaction, the parties will also enter into a
shareholders' agreement and a project management agreement, under which Kamaleo
Invest OOD will provide project management services to Botanica Lozen EOOD.

Kristina Mustonen, Member of the Management Board of Arco Vara AS: "The
involvement of a local partner will help ensure the smooth completion of the
Botanica Lozen development project, while at the same time allowing Arco Vara to
focus more on its core market in Estonia."

Arco Vara AS will inform the market of further developments related to the
transaction in accordance with applicable disclosure requirements.

The transaction is not considered a related party transaction within the meaning
of the "Requirements for Issuers" section of the NASDAQ Tallinn Stock Exchange
Rules. The members of the Management Board and the Supervisory Board of Arco
Vara AS have no personal interest in the transaction.

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