KBC: buys remaining 40% of Bulgaria's UBB-MetLife

(CercleFinance.com) - KBC has acquired MetLife's 40% stake in UBB-MetLife, a life insurance joint venture between UBB and MetLife in Bulgaria, the Belgian financial group said on Tuesday.


Earlier this year, KBC acquired 60% of UBB-MetLife as part of the acquisition of UBB.

The deal - which is expected to close in the second quarter of 2018 - will have an immaterial financial impact, KBC said.

UBB-MetLife has a 10% market share in Bulgarian life insurance.

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