EUROHOLD to buy the remaining minority stake in EIG

4 July 2018 — Andrei Victor
The Bulgarian financial group EUROHOLD has reached an agreement with South Eastern Europe Fund L.P. (SEEF), 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%.

Currently, EUROHOLD owns 100% in the other three subsidiaries - AVTO UNION, EUROLEASE Group and EURO-FINANCE, operating in car sales, leasing and investment services respectively.

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.

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