Eurohold Bulgaria recently sold the Avto Union Centre in the capital city of Sofia to satisfy debt owed to Piraeus Bank, and with that deal done the Bulgarian holding company is not sitting back counting the profits. Instead, they are pursuing at least two automotive industry opportunities in Romania and Macedonia.
Both opportunities were discussed at an investor’s meeting on Oct. 14th, but the names of the target companies are being withheld for now.
The Romanian deal is for an auto leasing company which appears close to bankruptcy. Eurohold Bulgaria already has Eurolease Auto Romania as part of its portfolio, so the addition of another similar company would help boost their market share in the country. In addition, Eurohold plans to sell more of its non-core assets to raise capital for further investments in the auto sales and leasing, and insurance sectors. The sale of Etropal, a medical equipment producer, is already underway while industrial manufacturer Eurotest Control is also planned for sale in the near future.
Eurohold Bulgaria (www.eurohold.bg)
Eurohold Bulgaria is a financial holding company established in 2006 from a merger between Starcom Holding and Eurohold. Eurohold’s current investments are mainly in the automotive, financial services, manufacturing, and real estate sectors.
Long term growth targets for Eurohold include gaining a 10% market share in the automotive sales and leasing sector along with general insurance and supplementary private health insurance.