KBC Ancora announces the successful sale of 4.7 million of KBC Group shares resulting in proceeds of 184 million euro

Regulated information, Leuven, 19 November 2013 (09.45 CET)

• KBC Ancora announces the successful sale today of 4.7 million KBC Group shares, resulting in cash proceeds of 184 million euro. A positive result of 35.9 million euro is realized on this sale.
• The proceeds will be used to buy back a loan that was provided by KBC Bank to KBC Ancora in 2007. A positive result of 15.75 million euro is realized on this buy-back.
• As a result of the buy-back of the loan, KBC Ancora’s interest payments in the current financial year will decrease by 5.7 million euro. In the subsequent financial years, the interest payments will decrease by 9.6 million euro.
• The debt ratio of KBC Ancora decreases by approx. one third.
• The intrinsic value of one KBC Ancora share is now equivalent to the stock price of 0.99 KBC Group shares, minus the debt per KBC Ancora share, which currently amounts to 4.98 euro.
• As indicated by KBC Group, the transaction has a positive impact on the regulatory capital of KBC Bank.
• KBC Ancora remains the largest shareholder of KBC Group after the transaction and will continue its role in ensuring the shareholder stability of the KBC group, alongside Cera and the other stable shareholders.  

Read the full version of the press release.