Bulgarian manufacturing and financial services group Eurohold is
poised to absorb an unnamed Romanian lessor and a number of car
dealerships, it was revealed at an investors’ meeting on October
14th.
Board member Borislav Feschiev said the target company was on
the edge of bankruptcy, but could provide an excellent portfolio to
add to existing Romanian property Eurolease Auto
Romania.
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Eurohold has been on the acquisition trail for some time,
seeking Romanian trophies since the latter half of 2008. At
that time, Eurohold’s supervisory board chairman Assen Christov was
quoted as saying: “The economic crisis will not affect Romania too
much, and I think there are many opportunities on the market
now.”
Despite Romania’s leasing market – particularly the auto sector
– taking some of the worst damage seen in any CEE country, Eurohold
has remained committed to the territory.
Furthermore, said Feschiev, Eurohold will continue to seek
similar bargains on the Bulgarian market. The company is predicting
a profit of €4.3 million at year end.
Fred Crawley
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