March 14 (SeeNews) - The Bulgarian unit of Greece's Eurobank is seeking antitrust clearance for the planned acquisition of the local business of BNP Paribas Personal Finance, the wholly-owned retail financing subsidiary of French lender BNP Paribas Group, the Bulgarian competition authority said on Tuesday.
The antitrust authority is inviting third parties to submit comments on the notified deal and its potential effect on market competition within seven days, the Commission on Protection of Competition said in a notice.
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Eurobank Bulgaria, which operates under the Postbank brand, agreed to purchase the Bulgarian branch of BNP Paribas Personal Finance in December. As of September 30, 2022, BNP Paribas Personal Finance Bulgaria held total assets of 450 million euro ($481.4 million), net borrowings of 406 million euro and deposits of nearly 100 million euro.
Eurobank expects to complete the deal in the first quarter of 2023, it said at the time. According to the vendor, the usual term for closing such transactions is six to nine months.
As of end-January, Eurobank Bulgaria was the country's fourth-largest lender out of 25, while BNP Paribas Personal Finance - Bulgaria branch was at 21st position, according to most recent central bank data.
($ = 0.9348 euro)
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