Investor Presentaiton
Purchase price & closing requirements
Purchase Price
Considerations
■ KBC Bank NV has agreed to acquire 100% of Raiffeisenbank Bulgaria (RBBG) for
a total cash consideration of 1015m EUR (the "Purchase Price"), payable at
closing
EPS accretive from year 1 onwards. The Purchase Price represents a 1.64x
multiple of the 2022E Tangible Book value and a 13 P/E (1) (based on 2022E
earnings)
Closing
Requirements
■ Closing of the Transaction is dependent upon the regulatory approvals from the
Bulgarian National Bank (BNB) and the Bulgarian Financial Supervision
Commission (FSC), the non-objection by the National Bank of Belgium (NBB) and
the European Central Bank (ECB) and Bulgarian Competition Protection
Commission approval
■ The Transaction is expected to close mid-2022
(1) Including RR synergies (Run Rate synergies: recurring for longer terms & perpetual synergies ) + best estimate book value
10
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