EIBank – acquisition of a 75% stake by KBC (2007)
KBC acquired 75% of EIBank from the investment fund Novator (48%) and Svetoslav Bozilov (24%) for a total of EUR 295mn. The transaction was subject to regulatory approvals in Bulgaria and Belgium and was completed in the fourth quarter of 2007. Bulbrokers acted as advisor to the buyer.
At that time, EIBANK employed 1 472 individuals, and had an extensive multi-channel and nationwide distribution network, which was the fifth largest distribution network in Bulgaria. The bank is present in the biggest Bulgarian cities, with 17 regional offices, 91 branches, 129 other outlets and 93 ATMs as at 30 June 2007.