J&T Finance Group and KBC announce strategic acquisition of 365.bank by KBC, expanding its presence in Slovakia and Central and Eastern Europe

On May 14, J&T Finance Group SE, based in the Czech Republic and the majority shareholder of 365.bank a.s. and KBC Bank NV reached an agreement for KBC to acquire a 98.45% stake in 365.bank (in cash), based on a total value for 365.bank of EUR 761 million. The transaction is subject to relevant regulatory and anti-trust approvals and is expected to close by the end of this year.