Warsaw (Puls Biznesu) – There are only four companies left considering the acquisition of mini-BPH, part of BPH’s units which will not be incorporated into Pekao. Two serious candidates, including Raiffeisen and KBC decided to withdraw.
Till the end of February, or for 16 days, companies interested in acquiring mini-BPH have time to submit their offers. Mini-BPH is part of today’s Bank BPH consisting of 200 outlets along with their clients and the bank’s headquarters. Italian Unicredit put them up for sale. The rest, or 285 outlets with clients and subsidiaries will be acquired by Pekao.
According to “PB” sources, two key players withdrew from the process.
“KBC and Raiffeisen will not submit their offers. It looks like the acquisition would generate costs and not growth. This is the main reason of their withdrawal”, “PB” source said.
Raiffeisen is the 13th biggest bank in Poland. KBC is the investor of Kredyt Bank, Poland’s 9th largest bank and Warta, one of the country’s biggest insurance companies. There are four companies interested in the acquisition of mini-BPH, including Santander, BNP Paribas controlling Cetelem, GE Capital, the investor of GE Monay and Credit Mutuel. Pekao is merging with Bank BPH because its owner Unicredit acquired HVB.