"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", as the Bulgarian holding mentioned in a statement.
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% f 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 has to be approved by the Commission for Protection of Competition, the Bulgarian competition authority. The documents have already been submitted to the regulator.
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