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- TBI Rent was the largest independent vehicle operating leasing provider in Bulgaria, owned by TBI Bank, a niche local commercial bank.
- In 2016 TBI Bank was acquired by 4finance Holding, one of Europe’s largest online consumer
- lending groups operating in 14 countries, with the goal of entering the Bulgarian retail lending market.
- In line with this strategy, TBI Bank chose to divest its non-core TBI Rent operation.
- SORTIS Invest was selected in a beauty contest as the exclusive financial advisor of TBI Bank for the sale of TBI Rent.
- SORTIS managed the entire sale process from preparing the transaction documents, through deal marketing, to non-binding and binding offers evaluation, negotiations and closing.
- Both local and international bidders were attracted for a very competitive process.
- Deal was signed two weeks ahead of schedule.
- Sale price significantly exceeded Seller’s original target.