Entra Capital advised Prista Oil Group on attracting €50m bank financing

Entra Capital advised Prista Oil Group on attracting €50m bank financing

Entra Capital advised Prista Oil Group on attracting €50m bank financing

Client: Prista Oil Group BV
Status: Private
Sector: Lubricants & Car Batteries
Revenue: €205m
Web: www.prista-oil.com/en
Seller: Unicredit Bulbank
Status: Private
Sector: Financial Institution / Bank
Revenue:
Web: www.unicreditbulbank.bg/en/

Client: Prista Oil Group BV

  • Prista Oil Group is a leading Bulgarian industrial group with main businesses involved in the production of lubricants and car batteries
  • Prista Oil Group’s production is export-oriented and is sold across Europe, Africa, Asia and the Middle-East

 

Investor: UniCredit Bulbank

  • UniCredit Bulbank is the biggest Bulgarian bank in terms of assets
  • The bank is servicing over 1 million individual clients and households, high profile private customers, small and mid-sized businesses, larger domestic and multinational corporates, municipalities and budget enterprises

 

Situation Overview & Solution

  • Consortium of institutional investors, comprised of ADM Capital and the European Bank for Reconstruction and Development (EBRD), acquired 30% stake in Prista Oil Group in 2012. By 2016, the investors started to consider exiting the Group as their investment horizon approached its final years
  • Prista Oil Group hired Entrea Capital to advise it on an exclusive basis on the raising of financing in order to facilitate the Consortium’s exit
  • Entrea Capital advised on the raising of a €50m loan from Unicredit Bulbank, used to buy back Consortium’s minority equity stake and refinance their outstanding credit facility
  • The transaction enabled the majority shareholders Atanas Bobokov and Plamen Bobokov to regain full control of the Group

 

Entrea Capital’s Role and Value Added

Entrea Capital provided the following value-added services to Prista Oil Group:

  • Advised on the structure of the potential transaction
  • Screened financing institutions interested in supporting the envisaged transaction
  • Created the financial model that underpinned the negotiations with the lenders
  • Led the negotiations process and provided expert advice during the drafting of the transaction documents