Eurobank EFG completes acquisition of DZI Bank

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.