Leasing company nears bankruptcy. Eurohold potential buyer

Bulgarian-based financial group Eurohold, majority shareholder of EuroIns Romania, is in advanced talks to acquire a leasing company in Romania that is on the brink of bankruptcy, as well as a number of car dealers in Romania and Macedonia, Dnevnik reports.
However, the group refused to disclose the name of participants in the deal.

Borislav Feschiev, member of Eurohold board said the leasing company in Romania they consider for the acquisition was on the brink of bankruptcy and would undergo restructuring, following to complete the leasing portfolio of Eurolease Auto Romania.

He added Eurohold was interested in this type of acquisitions in the Bulgarian market as well, namely distressed companies but with solid portfolios and management.

In the coming two years, Eurohold plans to sell a part of its assets to fund its basic operations, such as insurances, leasing and car sales, according to the chairman of the board, Kiril Bosov.

Eurohold is currently in talks for the sale of the medical equipment manufacturer Etropal, deal expected to complete by the end of the year. The group considers selling the industrial products testing company Eurotest Control.

Eurohold expects profit of €4.28 mln this year and revenues of €210.2 mln.

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