Global Finance To Buy Stake in Euroins Insurance Group for 26 Mln Euros

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Greece's Global Finance will invest through South Eastern Europe Fund (SEEF) a total of 26 mln euros for the acquisition of a minority stake of the capital of Bulgaria's Euroins Insurance Group (EIG).

EIG is a leading Bulgarian insurance group. The company expanded its operations over the last two years through the acquisition of insurance companies in Romania and Macedonia. The company has more than 300 offices and more than 700,000 clients in the region. EIG's consolidated premium income is expected to reach 95 mln euros, which would represent a 40-percent year on year increase.

In accordance with its strategy for helping leading national companies grow into regional players, Global Finance will fund EIG's growth through the acquisition of new insurance companies in the region and in markets that are new to the group, such as Russia and Ukraine.

EIG is a holding company consolidating the insurance operations of Eurohold Bulgaria (). Eurohold is the second largest holding traded on the Bulgarian Stock Exchange (BSE). The company has considerable investments in the leasing and automobile sectors and in asset management.

Global Finance is a leading equity investment fund in the region, which manages over 850 mln. euro assets, offered by leading institutional investors. The company has completed investments in more than 60 companies, mainly in Greece, Bulgaria and Romania.

EFG Telesis Finance and EFG Securities Bulgaria were selected as investment consultants on the transaction.

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