Bulgaria's BACB to acquire 99.94% of Tokuda Bank

By bne IntelliNews April 16, 2024

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated.

The two banks are among the smallest in Bulgaria and their merger will not lead to a significant change of market share.

BACB plans to acquire 6.796mn voting shares in Tokuda Bank with a par value of BGN10 (€5.1) per share, BACB said in a statement without providing further details.

The deal will have to be approved by Bulgarian regulatory bodies – the central bank and the Competition protection Commission (CPC).

Currently, BACB is the 12th largest bank in Bulgaria with assets of BGN2.8bn as of end-2023. Tokuda Bank is the 17th largest bank with assets of BGN485.4mn as of end-2023.

Related Articles

Bulgargaz files claim against Gazprom over lost gas supply

Gazprom faces another compensation claim for lost gas supply from a former European customer – this time Bulgaria’s state gas company Bulgargaz. Bulgaria was one of a number of European ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more