BOYANOV & Co. Advises NBG on the Sale of United Bulgarian Bank and Interlease to KBC
Freshfields together with BOYANOV & Co. as local counsel advised NBG on the biggest banking deal of 2016 – the sale of United Bulgarian Bank and Interlease to KBC for a total consideration of EUR 610 million. On 13 June 2017 the sale of the Bulgarian NBG group entities was successfully closed after a year of preparation including buyer due diligence analysis, regulatory notifications and permissions, and preliminary internal ownership reorganization. The acquisition of fourth-largest bank in Bulgaria significantly strengthens KBC’s position on the local market.
The complexity of transactions involved the consolidation within the UBB group and the indirect acquisition by KBC of the insurance, insurance brokerage, asset management, leasing and factoring businesses, as well as loan investments of NBG Group in Bulgaria.
BOYANOV & Co.’s team on the deal is led by the Managing Partner Borislav Boyanov, Svetlina Kortenska, Counsel and Ilina Maltzeva, Associate.
Copyright picture: UBB