The UniCredito Italiano - Allianz consortium will be the buyer of Bulbank, was the unanimous decision of the board of directors of the Bank Consolidation Company (BCC) taken Friday afternoon. The price of the deal is EUR 360 million for 98% of the bank's assets. In the progress of the negotiations the buyer raised the price by EUR 10 million. The Italian bank receives 93% of Bulbank's capital and the German insurer takes 5%. They will keep the shares of Bulgaria's biggest bank for at least three years. The EUR 360 million price takes into account the sale of the bank's stakes in UBB, Corporate Bank and Hypovereinsbank. The contract for Bulbank's sale will be signed after it receives the approval of the Bulgarian and Italian Central Banks as well as of the Commission for Protection of Competition. EUR 15 million will be blocked for 18 months in a trust account. The whole price will be paid on the day the deal is signed and the shares are endorsed. Prime Minister Ivan Kostov repeated again before reporters that he has full confidence in the Bank Consolidation Company and its management. After the sale of Bulbank and the Bulgarian Telecommunications Company (BTC) the structural adjustment in the privatization will drop out of the government's priorities, the Prime Minister said