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SOFIA (Bulgaria), September 2 (SeeNews) - Allianz Bulgaria Holding said on Monday that it has completed the acquisition of the remaining 49% of Allianz Leasing Bulgaria from Austria-based VHO Holding, becoming the company's sole owner.
The acquisition will strengthen Allianz Bulgaria Holding's position on the local market, the company said in a statement.
The price of the transaction was not disclosed.
Allianz Leasing Bulgaria booked net financial leasing income of 25.6 million levs ($14.4 million/13.1 million euro) in 2018, and closed the year with a net profit of 1.8 million levs. Allianz Leasing Bulgaria has 16 branches across the country and employs 22 people.
The leasing company has assets of 44 million levs.
(1 euro = 1.95583 levs)