EiBank – tender offer (2007) and squeeze out (2008)
As of June 30, 2007 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.
Bulbrokers Consulting advised the majority shareholder KBC on its tender offer for purchase of shares from the remaining shareholders in EiBank. The tender offer was for 2.17 % of the capital of EiBank with total value of EUR 8.5mn.
Further, Bulbrokers Consulting advised KBC on the consecutive squeeze out procedure for the remaining shares of the minority shareholders of EiBank (0.33%), totaling EUR 1.3mn.
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 under the two procedures. Bulbokers acted as financial intermediary for the procedures.