Home News Euroins parent company Eurohold has sold its Bulgarian car business – Avto...

Euroins parent company Eurohold has sold its Bulgarian car business – Avto Union – and subsidiary Eurolease Group

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Avto Union includes the part of Eurohold’s automotive business that has not yet been sold. Over the past year, Eurohold has sold most of its assets through several transactions, including those of importers and distributors of top brands that have a large market share, such as Mazda, Nissan, Renault, Dacia, etc. As a result of these transactions, five smaller subsidiaries were left in the Avto Union structure, which offers a few brands of cars, scooters and motorcycles to the Bulgarian market, as well as oil, lubricants and fuel solutions.

Eurolease Group unites the l¬¬¬leasing business, which is organically linked to the car business and includes six subsidiaries that offer financial leasing services, short-term and long-term rental solutions for new and second-hand cars, in Bulgaria and the Republic of North Macedonia.

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The sale of the two companies is part of Eurohold’s strategy to focus on its energy and insurance businesses. The transaction will significantly reduce the indebtedness of the holding, as leasing companies traditionally operate with a high degree of indebtedness.

Eurohold is the majority shareholder of Electrohold, which owns the largest distributor, supplier and trader of electricity in Bulgaria, has 3,000 employees and serves 3 million customers. Eurohold is also the owner of Euroins Insurance Group, one of the most important insurance groups in South-East Europe, which has 3,000 employees and serves more than 4 million customers in 13 countries. Euro-Finance AD, the company specialized in investments and brokerage services, will also continue to be part of the Eurohold structure.

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Asterion Bulgaria is a group of several companies operating in various fields, including car sales, service activities and delivery of spare parts.

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