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Kinstellar advises DZI, KBC’s Bulgarian insurance subsidiary, on its acquisition of UBB-MetLife and on the merger control approvals

March 2018 – Kinstellar is delighted to announce that we have advised DZI on the acquisition of 100% of the share interest in UBB-MetLife Insurance Company. The deal included the parallel acquisitions of the 40% Metlife’s and 60% UBB’s stakes in UBB-MetLife. We have provided the full transactional assistance from the due diligence process, through the negotiation of the acquisition agreements, to completion. Our work also covered the regulatory and  the post-acquisition integration aspects.

Our team has also advised on the merger filing and the approval of the acquisition by the Competition Authority, as well as on the antitrust aspects of the due diligence.

The Kinstellar team comprised: Diana Dimova (Partner), Svilen Issaev (Counsel) and Stiliyana Ivanova (Associate). The anti-trust work-stream was led by Dessislava Fessenko (Of Counsel), supported by Kamen Chanov (Junior Associate).

Following the acquisition of the majority stake in UBB last summer, this transaction confirms KBC’s position of a strong local market player, offering a wide range of bank-insurance products to its Bulgarian customers.

For more information please contact Diana Dimova, Partner, at