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PRESS RELEASE: SP Investments acquires Etalon Insurance

April 23, 2019. Kyiv, Ukraine. SP Advisors is pleased to announce that SP Investments, a part of the SP Advisors structure, has completed the acquisition of a controlling equity stake in Etalon Insurance. In the deal, SP Investments has acquired 77,000,000 shares, or a 100% stake, of Etalon Insurance.

"We are constantly looking to increase our investment in the economy of Ukraine, and we strongly believe this project will be the driver of growth not only for Etalon Insurance, but also for the entire insurance industry in Ukraine," said SP Advisors CEO Nick Piazza.

"This investment by SP Investments will be used to boost the development of Etalon Insurance and strengthen our market position, grow our market share, and improve the quality of the insurance services we provide," said Etalon Insurance Board Chairman Oleh Kravchenko.

About Etalon Insurance
Etalon Insurance has been operating on Ukraine's insurance market for the past 25 years and in the last three years has been generating robust sales growth rates.

About SP Advisors
SP Advisors is a full-service investment house focused on advisory, asset management, and merchant banking, operating in Ukraine, Georgia, and Eastern Europe. Established in 2011, SP Advisors has assembled a veteran management and corporate advisory team with experience in the Eastern European investment space. SP Advisors partners with businesses in Ukraine and abroad, including international investment banks and legal, consulting, and audit firms.