CEECAT Capital completed the sale of its shareholding in Monbat
EBRD, CEECAT Capital and the management of Monbat announce the sale of 100% of the membership rights of Prista Holdco Cooperatief UA to Holdco Investment OOD
- The European Bank for Reconstruction and Development (EBRD) and CEECAT Capital have disposed of their full shareholding in Prista HoldCo Cooperativ UA which holds 20.78% of the fully issued share capital of Monbat AD via a management buyout to HoldCo Investment OOD
- HoldCo Investment OOD is indirectly owned via EKIP Monbat OOD by the 6 top managers of Monbat that have contributed heavily to its successful development in the past and who will now be able to fully participate on Monbat’s future potential
- The management buyout will further strengthen the corporate governance of Monbat and will fully align the interests of shareholders with the management
Florian Huth, CEECAT Capital, commented:
“The top management of Monbat has done a tremendous job in the last years leading Monbat from strength to strength. They are exceptional professionals. It is a statement about their commitment to the future development of the company that they have decided to purchase our shares. This sale marks the end of CEECAT Capital’s successful partnership with Monbat and we would like to take this opportunity to thank Atanas and Plamen Bobokov and wish both them and management the very best for the future development of the company.”
Svetlin Pislenski, Associate Director of the EBRD, added:
“Since becoming a shareholder in Monbat alongside CEECAT Capital we have successfully supported management with our international experience, network and additional financing. We are confident that, following the management buyout, the company will continue the path of transparency and good governance, and will further strengthen its operations, by continuing to adhere to sustainability and being a leader in the circular economy.”
Viktor Spiriev, Chief Executive Officer of Monbat and a shareholder in EKIP Monbat OOD:
“We thank the EBRD and CEECAT Capital for their continuous support during their participation as shareholders in Monbat. It is our firm belief that Monbat will continue to maintain transparent, ethical and mutually beneficial relations with all remaining shareholders. Taking the next step and now being further vested as shareholders, the management of Monbat is fully committed to the future development of the Group. During our involvement as management, Monbat has not only become one of the five largest manufacturers of lead-acid batteries in Europe, but has also launched and expanded operations in Romania, Serbia, Italy, Germany and Tunisia. Monbat achieved remarkable results, becoming a truly global company offering solutions in the transport and energy sectors. New challenges in the energy sector are likely to provide new good opportunities for the company to adapt successfully to the market environment.