M&A, Corporate and Private Equity

Kinstellar Sofia advises KBC Group on the successful closing of the acquisition of NN Bulgaria  

July 2021 – Kinstellar has advised KBC Group and its Bulgarian subsidiary DZI – Life Insurance throughout the successful completion of the EUR 77.7 million acquisition announced in February 2021. Having received the necessary regulatory approvals by the Central Bank of Hungary, the Financial Supervision Commission and the Commission for Protection of Competition in Bulgaria, the acquisition was finalised on 30 July 2021. NN’s pension insurance business is renamed UBB – Pension Insurance, while NN’s life insurance becomes part of DZI – Life Insurance.

The combination of the life insurance business of the two companies, together with the addition of the pension insurance business, strengthens KBC Group’s leading position in Bulgaria. KBC Group’s subsidiaries can now offer an improved and comprehensive customer service in Bulgaria.

Kinstellar’s team in Sofia was led by Diana Dimova (Partner) and Nina Tsifudina (Counsel) and included Svilen Issaev (Counsel), Atanas Mihaylov (Managing Associate), Zornitsa Georgieva (Senior Associate), Georgi Kanev (Senior Associate), Gabriela Ivanova (Associate), Denitsa Kuzeva (Associate), and Ilia Lasin (Junior Associate).

For more information please contact Diana Dimova, at