Hungarian bank MKB (Magyar Kulkereskedelmi bank, MKB), a subsidiary of Bayerische Landesbank, finalised Wednesday the acquisition of a 60% stake in Bulgaria's Unionbank after all regulatory hurdles for the deal in the two countries were cleared. The acquisition price was not disclosed. The shareholders met on Wednesday to rename the bank to MKB Unionbank and elect new members of the supervisory board. The sale procedure for the 60% stake in Unionbank kicked off in late 2004. Unionbank controls 1.5% of the total assets of the Bulgarian banking sector. The bank operates 43 branches.