Belgium’s KBC, which has signed a deal for taking over 75% of the country’s 9 th largest Economic and Investment Bank (EIBank) last week, is planning to buy out shares traded on the local bourse, according to information unveiled by Tsvetelina Karagiozova who will retain a 22.25% stake in the local lender. The free float of EIBank is calculated at about 2.7% at present. Karagiozova comments in an interview for Kapital weekly that the other shortlisted candidates, Spain’s La Caixa, has offered a much higher price than KBC but the sellout decision is based on investment and expansion plans mainly. KBC will pay EUR 295mn for the 75% stake or roughly 15% below the market price reached on the local stock exchange. Karagiozova also unveils that the deal includes an that she will sell her stake in EIBank to KBC over a period of 3 to 5 years. EIBank has reported reports a total asset value of BGN 1.46bn (EUR 746mn) as of the end June and a net profit of BGN 30mn for last year. The net profit of the bank dropped to BGN 16.9mn in H1 as compared to BGN 21.3mn a year earlier.