Foreign Majors Buy 35% in Bulgaria's DZI Financial Group

Bulgaria's financial group DZI has sold a 35% stake in two of its main companies to major foreign investors - a 10% stake in DZI and a 25% stake in DZI Bank. London-based Creditanstalt Investment Bank International Markets managed the sale, Emil Kyulev, CEO of DZI, said, adding that this is a leading investment bank in Central and Eastern Europe. Later in the day HVB Bank Biochim, the Bulgarian unit of Bank Austria-Creditanstalt (BACA), said they assisted the deal. HVB Bank Biochim says British investors acquired 23% of the assets, German investors - 19%, and Austrians - 19%.