Greece’s third biggest bank Eurobank EFG bought DZI Bank on September 29, Dnevnik newspaper reported.
Eurobank EFG paid 157.76 euro for 74.26 per cent of the DZI shares. The Greek bank already owns Bulgarian Post Bank.
Nearly 110 million euro would be paid cash and the other part of the money would be received in Eurobank shares, Dnevnik said. The average price of such shares was 23.88 euro.
The terms of the agreement made the selling of DZI the most successful deal within Bulgaria’s banking sector, a DZI representative said.
The deal would be finalised by the end of 2006. First regulatory institutions in Bulgaria, Greece and Switzerland needed to give their permission, Dnevnik said. Once done, a merger of DZI and Post Bank would begin.
