Dutch-Israeli investment company Kardan is the new owner of NLB Sofia
Registered in Amsterdam, Dutch-Israeli Investment Company Kardan is the new owner of NLB Sofia. The company announced that its subsidiary unit of consumer finance TBIF Financial Services has signed an agreement to acquire the financial institution from its previous owners – Slovenian Nova Ljublianska Banka (which owns 97.01% of the capital) and Factor Banka (2.99%). Transaction value is 15 million EUR.
NLB Sofia is one of the smallest credit institutions on the Bulgarian market. At the end of 2010 its assets totaled 197.8 million EUR, ranging it on the 27th place out of 30 in Bulgaria. Its financial result for 2010 is a loss of 14.4 million EUR. The deal has to be approved by the Bulgarian National Bank and the Comision for Protection of Competition and it is expected to be finalized by the end of September 2011.
