KBC Increases its Stake in CSOB
KBC has agreed with Ceská pojišt’ovna, the Czech insurer, to buy its 1.13% stake in CSOB, KBC’s banking arm in the Czech Republic. This will increase KBC’s stake in CSOB to 98.58 % and result in Ceská pojišt’ovna exiting the shareholder structure of CSOB. The deal was concluded at the price proposed by KBC for the buy out of minority shareholders. The adequacy of this price was based on expert opinion and confirmed by the Czech National Bank.