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KBC Groupe SA Reaches Agreement with Societe Generale Srbija and Telenor ASA's Telenor Serbia on the Acquisition of KBC Banka (Serbia)


Thursday, 25 Apr 2013 08:00pm EDT 

KBC Groupe SA announced that it has reached an agreement with Societe Generale Srbija and Telenor ASA's Telenor Serbia on the acquisition of KBC Banka, KBC's banking entity in Serbia. Under the agreement, Telenor will purchase 100% of KBC Banka's shares, while Societe Generale Srbija will acquire KBC Banka's key assets and deposits. All the parties involved agreed not to disclose any financial details of the transaction. For KBC, however, the transaction will have an impact on earnings of an estimated EUR -47 million. Pending regulatory approval, the transaction is expected to be finalised in the fourth quarter of 2013. 

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41.685
0.75 +1.83%
24 Oct 2014