DZI Bank – tender offer (2007)
In 2007, DZI Bank was a medium-sized Bulgarian bank, listed on the Bulgarian Stock Exchange, which had a network of 131 branches and 43 micro-branches, and employed 1,300 individuals. The bank's strengths were embedded in corporate and commercial banking, deposit taking and card issuing, according to EFG Eurobank. In June 2006, DZI Bank held assets worth Euro 563mn. Its loans totaled Euro 250mn while deposits came to Euro 477mn.
The Eurobank EFG announced officially their intentions to merge DZI and Postbank and thus strengthen their positions on the rapidly expanding Bulgarian market.
Bulbrokers Consulting advised the majority shareholder Eurobank EFG Holding on its tender offer for purchase of shares from the remaining shareholders in DZI Bank. The tender offer was for 8.71 % of the capital of DZI Bank with total value of EUR 18.5mn.
The advisory services provided by
Bulbrokers Consulting included preparation of the related documentation, communication with the regulatory body the Financial Supervision Commission, as well as organization of the entire process. Bulgarian Post Bank acted as financial intermediary for the procedure.