With reference to its commitment to disclose any sensitive information related with the acquisition of CEZ Group’s assets in Bulgaria, Eurohold Bulgaria AD, a Sofia-based leading independent business group operating in the CEE/SEE/CIS region and the largest Bulgaria-based publicly-listed holding company, informs all the stakeholders that it is fully cooperating in the probe launched into the company on April 24 by the Financial Supervision Commission (FSC).
Eurohold defines FSC’s check as a logical and expected step due to the high profile deal for the acquisition of CEZ Group’s assets in Bulgaria. Eurohold is submitting all the necessary documents required by Bulgaria’s financial regulator and is providing the commission’s staff with full access to its corporate papers.
As a holding with a long-standing public status and owning subsidiaries whose business operations are strictly supervised by the financial regulator, Eurohold has always been subjected to regular FSC’s checks over its business activity and has always fully cooperated in these probes.
Eurohold reports publicly about its activity and it discloses and publishes financial and nonfinancial information on a regular basis complying with the terms, channels and format required by the law and the regulator. Its financial statements and reports are being published on a quarterly and annual basis on the corporate website and the sites of the Bulgarian Stock Exchange and Warsaw Stock Exchange where the company is listed.
Eurohold is the only Bulgarian private non-banking institution with a rating assigned by one of the three largest international rating agencies in the world – Fitch Ratings. In relation with this Fitch Ratings carries out regular reviews and assessments about the financial condition of the company, accompanied by the necessary reports which are published publicly.
Eurohold voluntarily complies with the National Code for Corporate Governance which requires from the company to enforce the good practices and principles of corporate governance, including transparency in the business operations, taking into account the interests of all stakeholders and responsible behavior considering the interest of the society.
Eurohold reminds again it will finance the acquisition of CEZ Group’s assets in Bulgaria through own funds and additional support to be provided by leading Western European banks. Due to confidentiality reasons the names of banks that will participate in the transaction as partners cannot be disclosed. Eurohold will disclose the public details about the funding of the deal after completion of all the agreements related with this issue.
Eurohold Bulgaria AD
Sofia-based Eurohold Bulgaria AD is a leading independent business group, operating in the CEE/SEE/CIS region and the largest publicly-listed holding company in Bulgaria. Eurohold’s subsidiaries operate in the field of insurance, leasing, car sales, asset management and investment services in 12 European countries. The company is listed on the Bulgarian Stock Exchange and the Warsaw Stock Exchange. The group has over 2.5 million clients and approximately 3000 employees. As of 2018, Eurohold’s consolidated revenues amounted to BGN 1.3 billion, its operating profit reached BGN 52.3 million and its consolidated assets totalled BGN 1.4 billion. For the last 20 years the holding company has completed 16 successful acquisitions of companies in different business segments in Central and Eastern Europe in transactions with leading corporations in Europe. Eurohold owns Euroins Insurance Group (EIG), one of the largest independent insurance groups in the CEE/SEE/CIS region, operating in 12 European markets, including own subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine, Georgia, Belarussia and the Czech Republic. EIG is also operating in Greece and Russia, and has niche operations in Spain, Poland and Italy.