Kirkland & Ellis LLP is advising Bulgarian-American Credit Bank (BACB) and its majority shareholder Bulgarian-American Enterprise Fund in a cross-border deal that was announced today. Allied Irish Banks, p.l.c., the largest bank in Ireland, is acquiring a 49.99 per cent stake in BACB for €216 million. This deal is subject to regulatory approval.
BACB was established in 1996 and listed on the Bulgarian stock exchange in March 2006. It provides secured finance to small and medium-sized businesses in Bulgaria.
The Kirkland deal team is being led by Chicago M&A partner R. Scott Falk, along with partner Gregory Vogelsperger and associate Lacey Bundy, with assistance from tax partner Keith E. Villmow.
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