The Belgian financial group KBC has reportedly expanded its ownership in the country’s major insurance group DZI from 81.21% to 87.24% after the buyback offer submitted to minority stakeholders. As recalled, the Belgian financial group sealed at the beginning of the year a deal for taking over 70% of DZI Insurance from the local firm Kontrakt Sofia for some EUR 260mn, comprising EUR 185mn for the net stake value and about EUR 75mn for 70% of the undistributed receipts from the recent sale of DZI Bank by DZI Insurance. KBC plans to delist DZI from the public companies register as soon as all preconditions are met. KBC may submit tender offer for delisting if it owns 90% of the insurer’s capital. KBC signed a deal for taking over 75% of the country’s 9 th largest Economic and Investment Bank (EIBank) for EUR 295mn last month and is planning to buy out the shares of the bank traded on the local bourse.