SEEF sells its minority stake in Euroins Insurance Group
South Eastern Europe Fund L.P. (SEEF), advised by Global Finance Group, has reached an agreement to sell its 10.64% participation in Euroins Insurance Group (EIG).
SEEF invested in EuroIns in 2008 in order to assist the expansion and development in the Balkan market. During this period and with the contribution of Global Finance Group, EuroIns increased its sales from €95m to €330m, making it the largest independent insurance company in the Balkans.
Global Finance, founded in Athens in 1991, is a leading private equity firm in Southeastern Europe advising over €850 million of capital raised in eight funds. It has completed over 70 equity investments in Greece, Romania and Bulgaria. Global Finance closely works with management to implement value creating strategies, assist with growth, add-on acquisitions and financing plans.
