KBC Closes Deal to Sell KBC Banka Serbia

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KBC announced that the process set forth in agreements of 26 April 2013 with Societe Generale Srbija and Telenor Serbia on the divestment of KBC Banka, KBC's banking entity in Serbia, had been concluded.

As agreed, Telenor now holds 100% of KBC Banka's shares, while Societe Generale Srbija had already acquired KBC Banka's key assets and deposits in August. The Jankovic, Popovic, & Mitic team advising the seller, KBC Insurance, was led by Partner Milica Subotic and Senior Lawyer Nikola Poznanovic.