February 25th - The board of NIBC has today approved the offer made by Flora Acquisition BV, a subsidy wholly owned by BlackStone group at a share price of EUR 9.85 cum dividend per share, in an all cash transaction that would see NIBC’s valuation rise to 1.36 billion EUR.

Over the years, NIBC has positioned itself as an agile and entrepreneurial bank, notably not offering retail financial services such as payments and current accounts but focusing on longer deposit products such as savings and insurance, as well as in the mortgage market.

If the offer is declared unconditional and the sale is concluded, purchaser Blackstone intends to continue with and accelerate NIBC’s strategy of digital innovation.

CEO Paulus de Wit stated “With Blackstone, NIBC will be equipped to improve on this success, building on its strategy focused on providing an attractive retail offering, growing its originate-to-manage platform and transforming and growing its corporate lending in niche segments of the market. Blackstone’s support will also enable further investment into new ventures and Fintech driven initiatives.”