Short Company profile

 

Mladen Mihalev - Magjo now officially and solely owns the building that houses the headquarters of International Asset Bank on Sofia's Todor Alexandrov Blvd. This is done through the acquisition of "DLA Real Estates", which was previously owned by the Cypriot DLA Industries. When it was built in 2002, the building with an area of ??10.4 thousand square meters was divided into two parts. The owner of one is the Spanish fund Litexco, and the other - First Eastern International Bank, which a few years later was renamed International Asset Bank. In 2015, the bank transferred its part in the building to the recently established "DLA Real Estates". At that time, the deal was for nearly 25 million leva. According to DLA's short balance sheet for 2024, the property in its assets was valued at 20.8 million leva, with the company having 13 million leva in liabilities. In June 2025, DLA acquired the remaining part of the building. The seller was Litexco Bulgaria, and the price declared in the Property Register was just over 11 million leva. The deal was financed with a mortgage loan for over 10 million leva from International Asset Bank. Thus, the now consolidated property became the property of Maggio. With a contract dated December 3, he purchased 100% of the Bulgarian DLA Real Estate from the Cypriot DLA Industries. The price was not disclosed in the contract, and the company's manager remained Teodora Vasileva-Zlatanova, who was also a representative of the Cypriot company. Mihalev himself has never directly appeared as a shareholder in International Asset Bank, and most shareholders have less than 10%. Among them is Maggio's wife Elena Mihaleva. The only shareholder with a larger share - 25% - is Dynatrade International, whose actual owner is declared to be the wrestling champion from the 90s, Valentin Yordanov. Mihalev's connection with the related insurance company Asset Insurance, where his daughter Joanna is a board member, is more direct. Here, the bank has 9%, with control being through other companies associated with it, such as Bent Oil (43%) and Stara Planina Hold (20%) and Hydraulic Elements and Systems (20%). International Asset Bank is one of the smaller players on the market - 11th in size with 3.4 billion leva in assets as of September, which gives it about 1.6% market share. For the nine months, it reported a profit of 37.6 million leva.

 

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