The largest public Bulgarian holding and one of the leaders in the independent busyness groups in Central and Southeast Europe – Eurohold Bulgaria – reached an agreement that the holding will acquire the business of the Czech company CEZ Group in Bulgaria.
Eurohold will pay EUR 335 million for acquiring the assets of CEZ Group in Bulgaria. Eurohold will fund the deal with a combination of equity and debt.
Eurohold has already signed agreements with two global investment banks with quite an experience in delivering financial help to such bargains.
Eurohold has already formed up a consultative council of experts with quite an experience in the international distribution of electricity. They will be advisors of the company during the process of integration of the activities of CEZ Bulgaria in the structures of the holding.
CEZ Group in Bulgaria includes CEZ Distribution Bulgaria, the company for public supply with electricity CEZ Electro Bulgaria, the licensed electricity trader CEZ Trade Bulgaria, the IT company ICT Bulgaria, the photovoltaic park Free Energy Project Oreshets, the company producing electricity from biomass Bara Group and CEZ Bulgaria which coordinates and manages all other companies from the group in Bulgaria.
The deal of acquiring the business of CEZ Group in Bulgaria will be finalized after the approval of the regulators.
The international advocacy office Morrison & Foerster based in London and the Bulgarian office – „Stoeva, Chompalov and Znepolski“ are Eurohold‘s consultants for the deal. CEZ is being consulted by the advocacy companies Skills s.r.o. and „Penkov, Markov and partners“.
Eurohold is active in 10 European countries in insurance, leasing, selling cars, investments ane management of assets. Its stocks are being traded in the stock exchange in Sofia and Warsaw.
The group provides service for more than 2.5 million customers and has almost 3000 employees. In 2018 Eurohold‘s consolidated incomes are up to BGN 1.3 billion, its operative profit – BGN 52.3 million and its assets – BGN 1.4 billion.
In the last 20 years the holding has successfully acquired 16 companies in Central and Eastern Europe throught leading European corporations.
Eurohold is the owner of Euroins Insurance Group (EIG) – one of the biggest independent insurance groups in Southeastern Europe. EIG is active in 10 European countries and owns subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine, Georgia and Russia. EIG is active also in Greece, Spain Poland and Italy. In March 2019 EIG acquired 4 more insurance companies from the German ERGO in 3 European countries – Romania, Czech and Belarus.