Bulgarian real estate investment trust (REIT) Bulland Investments [BUL:5BD] said on Wednesday that insurer Euroins Romania has raised its stake in the company to 6.34% from 2.17%. Euroins Romania bought a total of 542,150 shares in Bulland Investments and currently holds 824,620 shares of its equity, the REIT said in a statement to the Sofia bourse. No financial details were disclosed. Financial and insurance services group Eurohold Bulgaria - the parent company of Euroins Romania, and its subsidiaries held a combined 17.01% stake in Bulland Investments at the end of September. Bulland Investments was trading 4.26% higher at 0.98 levs ($0.67/0.5 euro) on the Bulgarian Stock Exchange by 1340 GMT.
Source: money.bg (24.01.2013)

The resignation of the government affected negatively the stock market. The main index SOFIX fell 2.69% yesterday to 382.7 points. The greatest decline was of Chimimport’s shares (14% to BGN 1.22), CCB (by 11% to BGN 0.782) of Bulgartabac (by 6.49% to BGN 93.5). Around noon a strong decrease of about 9% was recorded for shares of First Investment Bank. Stara Planina Hold rose (by 2.81% to BGN 2.699), M+S Hydraulic (by 2.16% to BGN 7), Kaolin (by 0.56% to BGN 3.62) and Eurohold Bulgaria (by 0.33% to BGN 0.925). The decline in the share prices of these companies is not random and can be explained by the conservative attitude of investors towards them because of the lack of clarity about possible scenarios following the resignation of the government, experts believe. Stock Exchange always overexposed similar political news and the effect on the economy is not commensurate with the effect on stock trading.
Source: Sega (21.02.2013)

Irregularities in the finances of the manufacturer of medical supplies Etropal were found by the audit made by "Active" during check of the report for the previous year. After the auditing procedure unconsolidated loss of the company has increased greatly. There is no full data for deals to the amount of BGN 713 thousand for 2012 and BGN 1.14 milion reported for 2011. Etropal did not settle claims for BGN 25.2 million, as well as duties assessed to BGN 9 thousand. Beside this the company gave a loan to the amount of BGN 605 thousand to an affiliate. The biggest loan that the company gave to affiliates is to the amount of BGN 107 thousand, lent to the subsidiary Syntetica. According to the audited accounts the company had revenues, assessed to BGN 7.89 million, which is a 28% decrease yoy.
Source: Capital (04.04.2013)

Bulgaria's Star Motors, the main local distributor of Mitsubishi vehicles, will open a sales and service centre in Macedonia by the end of April, its parent company Eurohold Bulgaria said on Monday. The centre, which will be located in Skopje, will have a 500 square metre showroom and a 500 square metre workshop, Eurohold Bulgaria said in a bourse filing. Eurohold Bulgaria entered the Macedonian market in 2008 through insurer Euroins and leasing company Eurolease Auto, whose market share in the country reached 7.3% in 2012. Star Motors is fully owned by Avto Union (www.avto-union.com), the holding company incorporating Eurohold Bulgaria's investments in the auto sector. It sells vehicles of the Fiat, Alfa Romeo, Lancia, Maserati, Opel, Chevrolet, Mazda, Nissan, Renault and Dacia auto brands.
Source: Darik Radio (09.04.2013)

Bulgartabac tops K50 public companies in Bulgaria. Second is the longtime leader until recently - pharmaceutical company Sopharma. This is the seventh consecutive ranking, which is the successor of Dnevnik 100. This year, companies are grouped in one rang and are only 50. In previous editions they were divided into small and large according to capitalization and only then ranked. A positive event, which may be remembered from last year, is the privatization of the state minority stakes in CEZ and Energy pro (formerly E.ON) at the Bulgarian Stock Exchange. Generally the top places are taken mostly by familiar names that have held them in recent years - Monbat , Himimport , EuroHold Bulgaria.
Source: Capital (07.05.2013)

Eurohold Bulgaria offloads real estate subsidiary Bulgarian blue-chip financial and insurance group Eurohold Bulgaria said on Friday it sold its wholly-owned real estate subsidiary Eurohold Imoti for 2 million levs in a bid to reduce debt. The deal is part of the group's strategy to focus on its core activities - insurance, leasing and car sales - and the divestment of the loss-making property specialist will have a positive effect on the parent company's results, Eurohold said in a bourse filing. The capital gain from the transaction amounts to 552,700 levs. The group registered a consolidated net loss of 4.8 million levs in first quarter of 2013 from the year-earlier net profit of 1.28 million levs.
Source: profit.bg (08.07.2013)

Euroins is to acquire Interamerican’s business Dutch financial group Achmea will sell its insurance business in Bulgarian-Interamercian to its local competitor Euroins. The deal is not expected to bring serious friction on the market, but it is a signal for the need of consolidation on it. Lack of growth on the Bulgarian insurance market makes it probably unattractive to foreign investors. Interamercian’s business has shrunk significantly in recent years in terms of premium revenues. At the same time the company has accumulated big losses, too. The deal is expected to be put to an end soon. It is to include sale of both general insurance and life insurance sections of Interamerican in Bulgaria. In the mother company’ s financial reports for the second quarter of 2013 it is explicitly said that Interamerican insurance company and Interamerican Bulgaria Life Insurance are considered as assets for sale. Thus Achmea’s strategy includes withdraw from the Bulgarian insurance market - either by selling the subsidiaries themselves, or through the sale of their insurance portfolio.
Source: Capital (21.08.2013)

Starcom Holding increased its share in Eurohold Bulgaria Starcom Holding increased its share in Eurohold Bulgaria, shows a reference to the weekly bulletin of the central depositary. In the end on last week the majority owner held 45.2 per cent of the capital of the holding. Vendor in the deal is UPF Badesche, which decreased its share to 4.5599 per cent. Latest deals with equities of Eurohold Bulgaria were made to the price of BGN 0.909 per piece. In the end of April the general shareholders meeting voted for back purchase of up to 3% of its own shares at prices between BGN 1.00 and BGN 1.35 per lot. The deadline for the back purchase is 1 year, or up to April 2014.
Source: profit.bg (15.10.2013)

Insurer QBE agrees to transfer Bulgarian, Romanian ops to Euroins Insurance Group Australian insurance company QBE has signed an agreement with Bulgarian peer Euroins Insurance Group to transfer its operations in Bulgaria and Romania for an undisclosed amount, the buyer's parent company Eurohold Bulgaria [BUL:4EH] said on Tuesday. The deal is in line with QBE’s expansion plan based on a strategic market review and with Euroins’ aim to strengthen its position on the regional market , Eurohold said in a filing with the Sofia stock exchange. QBE Bulgaria and QBE Romania will continue to support the local markets and will work together to after the acquisition of QBE’s existing books of insurance business. Euroins Insurance Group has some 7.0% market share in Bulgaria, Romania and Macedonia.
Source: Capital (05.12.2013)