Expat Capital acquires 20% of EuroHold Bulgaria.

By bne IntelliNews June 21, 2011
Bulgarian financial services company Expat Capital, acquired 20% of EuroHold Bulgaria, which operates in financial services, leasing, insurance and car sales, through a deal on the stock exchange, the company announced in a note on its website. Nikolay Vassilev, who was a minister in the last two national governments, is a CEO and a member of the Board of Expat Capital. The price of the deal reached BGN 26.4mn or BGN 1.215 per share. The stake was bought from the majority shareholder Starcom Holding, which will retain its controlling ownership, and from affiliated to the holding persons. Some of the reasons that Expat pointed out as decisive in the motion to acquire a minority stake in EuroHold are the holdings clear and focused business model, the professionalism and impeccable reputation of management, the good prospects before the sectors that EuroHold operates in and the good liquidity of the stock due to the considerable free float. Expat Capital offers asset management and financial advisory services. It currently manages three mutual funds, two real estate investment trusts, one private equity vehicle and private investment accounts. EuroHold stock closed at BGN 1.25 at the day of the deal, up 3.4% since the last closing price.

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