04.06.2009
Wolf Theiss advises on the successful sale of Avto Union Holding Limited to Eurohold Automotive Group
The sale of Avto Union, which was is the Bulgarian wholesaler and distributor of automotive products and sells the Fiat, Lancia, Alfa Romeo, Maserati, Mazda, Opel and Chevrolet brands, follows EIB’s strategic decision to dispose of non-core assets.
The transaction also involved the transfer of Avto Union’s 80% shareholding in Avto Union AD to Eurohold, who had previously controlled 20% of the shares in the company.
EIB was advised by Richard Clegg and Julia Kostova. Richard Clegg, Managing Partner Wolf Theiss Sofia office, commented: "We are very pleased to have provided proactive and practical legal support to EIB to ensure a smooth and quick transaction in a difficult economic climate for the automotive industry. The decision of Eurohold to acquire the group is a positive signal of the increasing levels of investment in the Bulgarian economy by leading Bulgarian and regional investors.'
Unaudited sales of Avto Union for the 12 month ended 31 December 2008 were Euro 70.5 million.
About Avto Union AD
Avto Union AD is a Bulgarian wholesaler and distributor of automotive products and sells the Fiat, Lancia, Alfa Romeo, Maserati, Mazda, Opel and Chevrolet brands. It also sells Piaggio, Vespa and Gilera motorbikes, has the Avis Rent-a-Car franchise and distributes Castrol and BP lubricants. Avto Union AD also owns the Avto Union Center.
About Eurohold Automotive Group
Eurohold Automotive Group is the automotive subsidiary of Eurohold Bulgaria Inc, a publicly listed holding company on the Bulgarian Stock Exchange.
About Wolf Theiss
Founded in 1957, Wolf Theiss is one of the leading European law firms in Central and Eastern Europe focusing on international business law. Its 12 offices, in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, Slovenia and Ukraine, employ more than 325 lawyers, working for local and inter-national industrial, trade and service companies as well as banks and insurance compa-nies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.
Award winning...
We concentrate on winning cases, rather than awards. But one tends to lead naturally to the other. Over the years, we have won numerous accolades, consistently ranking as one of the leading law firms in the CEE/SEE region:
"Eastern European law Firm of the Year" 2006
(Chambers & Partners)
"Law Firm of the Year" 2008 and 2009
(South-eastern Europe Real Estate Awards)
"Austrian Law Firm of the Year" 2006 and 2007
(IFLR - International Financial Law Review; Chambers & Partners, PLC Which lawyer?)
"Austrian Tax Law Firm of the Year" 2006, 2007 and 2009
(International Tax Review)
"Czech Law Firm of the Year" 2007 and 2008
(IFLR - International Financial Law Review; ACQ)
"Hungarian Law Firm of the Year" 2009
(IFLR - International Financial Law Review)
"Highly commended" for several complex and innovative transactions 2008
(FT Innovative Lawyer Report)
Further Information:
Vassilena Miteva
Business Development & Marketing
Wolf Theiss
Rainbow Plaza
29 Atanas Dukov
1407 Sofia
Tel.: +359 2 8613 703
E-Mail: vassilena.miteva@wolftheiss.com
