Eurobank Bulgaria completes the acquisition of Piraeus Bank Bulgaria

Eurobank Bulgaria has acquired the shares of Piraeus Bank Bulgaria. The value of the deal was EUR 75m. According to a statement by Eurobank Bulgaria, the two entities will continue operating separately in the short term, until their merger is completed. The combined entity should have c. BGN 11.4bn of assets, BGN 1.7bn of equity and 10.6% market share by assets which would make it the fourth largest bank in Bulgaria.