Eurotime

History

2024: Insight Investment Group bought Eurotime

In mid-April 2024, Avet Mirakyan's Insight investment group announced the conclusion of an agreement on the acquisition of the Belarusian leasing company Eurotime. The value of the transaction at the time of its execution is not officially disclosed.

Eurotime, which is on the list of the top 10 lessors of the Republic of Belarus, was established on March 5, 2020. It provides leasing services for cars, trucks and special vehicles for individuals and legal entities in Belarus. It is said that Eurotime has successfully attracted bank financing to develop its business. As of the end of 2023, the company's assets were estimated at 165.7 million Belarusian rubles (approximately 4.71 billion rubles at the exchange rate as of April 23, 2024).

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Freepik

It is reported that the Insight investment group became the owner of an 80 percent stake in Eurotime. The remaining 20% continues to be managed by the founder and director of this company Maxim Radkov. After the completion of the transaction, Insight will retain the focus of the acquired company on auto leasing, strengthen the team and give a new impetus to business development thanks to its knowledge and experience, and, if necessary, financing.

At the end of 2023, Eurotime took 8th place in the overall rating of leasing companies according to the Association of Lessors of the Republic of Belarus. In the list of car leasing companies in terms of the volume of new business, Eurotime was in third place among organizations providing financing for the purchase of passenger cars for legal entities, and in seventh place for individuals.

The acquisition of a leasing company and entry into the market of the CIS countries corresponds to Insight's strategic plans to develop a strong investment group that owns assets with different competencies, said representatives of the structure of Aveta Mirakyan.[1]

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