Kinstellar and Eisenberger + Herzog have advised Belgian KBC Group subsidiary KBC Bank on its EUR 1 billion acquisition of Raiffeisen Bank International’s Bulgarian subsidiary Raiffeisenbank. Wolf Theiss advised the seller.
Closing is expected in 2022, pending regulatory approval.
The transaction includes Raiffeisen Bank International’s Bulgarian banking operations, Raiffeisen Leasing Bulgaria, Raiffeisen Asset Management, Raiffeisen Insurance Broker, and Raiffeisen Service.
According to E+H, through the transaction, the KBC Group further expands its Bulgarian core business and strengthens its position in the Bulgarian banking market.
The Kinstellar team was led by Partner Diana Dimova and Counsels Nina Tsifudina and Svilen Issaev and included Counsel Mladen Minev, Of Counsel Dessislava Fessenko, Senior Associates Georgi Kanev, Emil Lukaev, and Yasen Nikolov, Associates Denitsa Kuzeva, Nikolay Gergov, and Gabriela Ivanovam, and Trainee Lawyer Donika Stavreva.
The E+H team was led by Partners Alric Ofenheimer and Josef Schmidt and included Partner Laurenz Liedermann and Associate Johannes Helm.
The Wolf Theiss team included Vienna-based Partners Andrea Gritsch and Claus Schneider and Counsel Zeno Grabmayr, as well as Sofia-based Partners Richard Clegg and Katerina Kraeva.