KBC Group, advised by E+H, acquires Raiffeisenbank Bulgaria

E+H advised KBC Bank NV on an agreement to acquire 100% of the shares of Raiffeisenbank (Bulgaria) EAD, comprising the Bulgarian banking operations of Raiffeisen Bank International, for EUR 1,015 million. The transaction also includes Raiffeisen Leasing Bulgaria, Raiffeisen Asset Management, Raiffeisen Insurance Broker and Raiffeisen Service.

Completion of the transaction is subject to regulatory approvals and is expected by mid-2022.

Through the transaction, KBC Group further expands its Bulgarian core business, which includes United Bulgarian Bank (UBB), and strengthens its #3 position in the Bulgarian banking market.

The E+ H team under the leadership of partners  (Corporate/M&A) and  (Corporate/M&A, Banking & Finance) advised alongside Kinstellar Sofia, led by Diana Dimova and EY as financial/tax advisor.

Advisors to KBC:
E+H Eisenberger + Herzog Rechtsanwalts GmbH
Dr. Alric A. Ofenheimer (Partner, Corporate/M&A), Josef Schmidt, LL.M. (Partner, Corporate/M&A, Banking & Finance),  (Partner, Banking & Finance), and  (Associate, Corporate/M&A)