The Greek Eurobank EFG has successfully completed the acquisition of Bulgaria ’s 11 th larges DZI Bank after transferring the main shareholders’ package in a block deal on the local stock exchange last week and receiving confirmation from the central depository register yesterday. A liquidator of a former small bank requests a temporary freeze on share transfers at DZI Bank but the central depository register has rejected the claims. Eurobank EFG has won the bidding for DZI Bank in late September with a price offer of EUR 157.76mn for 74.26% of the shareholders' capital. A few days ago, the Greeks have also presented a buyback offer to minority shareholders aimed at delisting the bank from the local stock exchange. Eurobank EFG also owns 53.4% of the Bulgarian 7 th largest Post Bank. The likely merger between DZI Bank and Post Bank will turn the new entity into the fourth largest lender on the local market.
Source: IntelliNews - Bulgaria Today