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Index MONDAY, 19 December 2011

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Greek Businessmen to Acquire DZI Bank

The owners of Postbank will pay 157 million euro for DZI Bank


Greek investors have acquired DZI Bank, previously owned by the assassinated businessman Emil Kiulev. The owners of Postbank - Eurobank EFG will pay 157,76 million euro for 74.26% of the shares of DZI Bank. The Bulgarian shareholders will receive 110 million euro in cash. The rest of the money will be paid with two million shares of the Greek bank.
 Postbank and DZI Bank will merge, announced Eurobank EFG. The assets of the new financial institution will amount to 3.3 billion levs (1 euro = 1.95 levs) thus making it the third biggest bank in Bulgaria. Probably after the merger the new bank will be called Eurobank, after its mother company. Through this deal Greece will strengthen its positions as a number one investor in the Bulgarian banking sector.
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