One week after it received necessary permissions from regulatory agencies, Belgian KBC group finalised the deal with Bulgaria's EIBank.
On December 5, 75 per cent of the shares of EIBank were transferred, Dnevnik daily said.
In the deal, close to 5.3 million shares changed owner at 110.34 leva, or around 577 million leva in total, Dnevnik said.
The package had been agreed upon between Tsvetelina Borislavova, investment fund Novator, founded by Icelandic Tor Borgolfson, and KBC.
After months of negotiations, the Belgian group and shareholders of EIBank signed an agreement for the sale of 75 per cent of the capital of EIBank at 295 million euro.
After the deal with KBC, Borislavova would keep 22.25 per cent of her share in the bank.
Earlier in 2007, KBC bought Bulgarian insurance company DZI. Through the networks of DZI and EIBank, the Belgian group would offer its concept for bank-insurance, offering bank, insurance and investment products and services simultaneously.
