Kinstellar advises KBC Group on the acquisition of NN’s Bulgarian pension insurance and life insurance businesses
February 2021 – We are delighted to have counselled KBC Group NV and its Bulgarian subsidiary DZI – Life Insurance EAD throughout their successful bid for the acquisition of NN’s Bulgarian pension insurance and life insurance businesses. On 10 February 2021 KBC Group and the Netherlands-based NN Group reached an agreement on the deal with a total consideration of EUR 77.7 million which is expected to be finalised in the course of 2021 subject to regulatory approvals.
In one of the largest deals in the insurance sector in Bulgaria, DZI – Life Insurance EAD acquires high-end pension fund products and increases its share of the life insurance market in Bulgaria, thus reaffirming its leading position.
We are proud to have been supporting KBC Group on yet another notable deal in the financial services sector in Bulgaria.
Kinstellar’s team in Sofia was led by Diana Dimova (Partner) and Nina Tsifudina (Managing Associate) and included Svilen Issaev (Counsel), Atanas Mihaylov (Managing Associate), Zornitsa Georgieva (Senior Associate), Gabriela Ivanova (Associate), Petar Popov (Junior Associate), and Ilia Lassin (Junior Associate).
For more information please contact Diana Dimova, Partner, at .