Kinstellar has advised the KBC Group N.V. and its Bulgarian subsidiary DZI-Life Insurance EAD, on their successful EUR 77.7 million bid for NN’s Bulgarian pension and life insurance businesses. The deal, which remains subject to regulatory approvals, is expected to close in the course of 2021.
As part of the deal, DZI-Life Insurance EAD acquires all the shares of NN Pension Insurance Company EAD (Bulgaria), and all the assets and liabilities of NN Insurance Co. Ltd. – Sofia Branch (Bulgaria).
The KBC Group N.V. is a Brussels-based provider of insurance services to private clients and small and medium-sized enterprises in Belgium, Ireland, Central Europe, and South-East Asia.
Kinstellar’s team included Sofia-based Partner Diana Dimova, Managing Associates Nina Tsifudina and Atanas Mihaylov, Counsel Svilen Issaev, Senior Associate Zornitsa Georgieva, Associate Gabriela Ivanova, and Junior Associates Petar Popov and Ilia Lassin. The firm did not reply to an inquiry about the deal.
Editor's note: After this article was published, Boyanov & Co informed CEE Legal Matters that it had acted as local counsel to the NN Group. The firm's team was led by Partner Yordan Naydenov and included Partner Alexander Chatalbashev and Senior Associate Borislav Notovsky.
