KBC Group NV (ENXTBR:KBC) entered into an agreement to acquire 99.44% stake in OTP Banka Slovensko, a.s. (BSSE:1OTP005E) from OTP Bank Nyrt. (BUSE:OTP) on February 17, 2020. The remaining shares of OTP Banka are held by a number of private individuals. After obtaining the necessary regulatory approvals, KBC Bank will become the new parent company of OTP Banka Slovensko. On completion, OTP Banka Slovensko's employees will be joined in KBC. OTB Banka Slovensko's brand name will remain in place for a certain period going forward to ensure a seamless transition for customers and staff until the merger is completed. The transaction is still subject to regulatory approval from the National Bank of Slovakia (NBS), supervisory approvals, and to the authorization of the National Bank of Belgium (NBB), the European Central Bank (ECB) and the Antimonopoly Office of the Slovak Republic. On June 9, 2020, the transaction was approved by the Slovak Antimonopoly Office. As per the update on March 11, 2020, Slovak Antimonopoly Office started examining the transaction. The parties involved in the transaction expect the deal to be finalized mid-2020 (in the second or third quarter). As of November 6, 2020, the deal is expected to be completed by end of this year 2020. Gábor Gelencsér and Tomáš Melišek of Kinstellar acted as legal advisors to OTP Bank.

KBC Group NV (ENXTBR:KBC) completed the acquisition of 99.44% stake in OTP Banka Slovensko, a.s. (BSSE:1OTP005E) from OTP Bank Nyrt. (BUSE:OTP) on November 26, 2020. OTB Banka Slovensko's brand name will initially remain in place to ensure a seamless transition. The transaction received regulatory approval from the National Bank of Slovakia, National Bank of Belgium and the European Central Bank.