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BRIEF-Kbc Group sells Antwerp Diamond Bank to Yinren Group
December 19, 2013 / 5:27 PM / 4 years ago

BRIEF-Kbc Group sells Antwerp Diamond Bank to Yinren Group

BRUSSELS, Dec 19 (Reuters) - KBC Groupe SA : * Says Yinren Group acquires Antwerp Diamond Bank from kbc * Kbc groupe -financial details of the deal, which is still subject to regulatory approval, are not being disclosed * Sale of ADB will have only a negligible upfront impact on the Kbc Group‘S earnings * Before deal close, part of ADB’s loan portfolio with a net book value of 0.4 billion euros to be transferred to co * After deal close, co will provide funding to ADB of 0.2 billion euros for a maximum period of 2 yrs on a secured basis

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