The biggest Belgian financial group KBC and Kontrakt Sofia reached an agreement for the acquisition of 70 per cent of DZI insurance.
The deal is worth 185 million euro, KBC and DZI said as quoted by mediapool.bg.
KBC will launch a takeover bid for the remaining 30 per cent after the deal is completed.
As a part of the deal, KBC will also buy the securities broker DZI Invest, which is listed on the Bulgarian Stock Exchange.
The deal is subject to approval by the Bulgarian regulatory authorities.
KBC is one of the leading financial groups in Europe with market capitalisation of 35 billion euro. The company deals with retail and private banking, asset management and offers corporate services.
KBC is already present in Poland, the Czech Republic, Slovakia and Hungary.
The former owner of DZI group is Emil Kuylev, shot dead in 2005.
The deal is worth 185 million euro, KBC and DZI said as quoted by mediapool.bg.
KBC will launch a takeover bid for the remaining 30 per cent after the deal is completed.
As a part of the deal, KBC will also buy the securities broker DZI Invest, which is listed on the Bulgarian Stock Exchange.
The deal is subject to approval by the Bulgarian regulatory authorities.
KBC is one of the leading financial groups in Europe with market capitalisation of 35 billion euro. The company deals with retail and private banking, asset management and offers corporate services.
KBC is already present in Poland, the Czech Republic, Slovakia and Hungary.
The former owner of DZI group is Emil Kuylev, shot dead in 2005.
