TBI to follow POS
One of Bulgaria's fastest-growing banks, TBI Bank, is set to be acquired by private equity firm Advent International, as confirmed by a stock exchange filing from its current owner, 4finance Holding S.A. While the exact purchase price remains undisclosed, it will exceed the bank's book value, with 75% of the amount paid in cash upon closing and the remainder covered over the following 18 months.
The deal, which requires regulatory approval from the ECB, BNB, and the Competition Protection Commission, is expected to close in the final quarter of 2025. This marks the first major bank acquisition in Bulgaria in years involving a new foreign investor rather than consolidation, and it follows Advent's earlier acquisition of fintech firm MyPOS in 2023.
Calf's got your lamb?
Bulgaria's Commission for Protection of Competition has fined two dairy producers, Milki Group Bio and Dimitar Madzharov 2, for misleading consumers by selling cheese labeled as made from sheep's milk that really contained cow's milk. Milki Group Bio was fined more than 1 million levs, while Dimitar Madzharov 2 received a 46,000 levs fine, both based on their 2023 revenues.
The investigation was triggered by media reports and confirmed through lab tests in Croatia, which found 63% cow's milk in one Sayana product and 7% in a Dimitar Madzharov cheese. The mislabelled batches were withdrawn from the market, reclassified as "mixed brined cheese," and both companies are now under increased regulatory oversight.
Eurozone inches closer
Bulgaria ended 2024 with a budget deficit of exactly 3% of GDP, aligning with the European Union's rule for sustainable public finances, according to preliminary data from the National Statistical Institute and Eurostat. This positions the country one step closer to joining the eurozone, with expectations rising for a favourable assessment in the upcoming European Commission convergence report in June.
The Bulgarian National Bank governor, Dimitar Radev, confirmed that Bulgaria has consistently met the nominal criteria, including inflation control, currency stability, debt-to-GDP ratio, and long-term interest rates. Recent inflation data also falls within the required thresholds, further strengthening the country's case for euro adoption.
TBI to follow POS
One of Bulgaria's fastest-growing banks, TBI Bank, is set to be acquired by private equity firm Advent International, as confirmed by a stock exchange filing from its current owner, 4finance Holding S.A. While the exact purchase price remains undisclosed, it will exceed the bank's book value, with 75% of the amount paid in cash upon closing and the remainder covered over the following 18 months.
