Poland/Enterprises/Banks
Warsaw (Puls Biznesu) – Yesterday, the European Commission agreed for Rabobank Nederland to buy Polish Bank Gospodarki Zywnosciowej (BGZ). ‘We have until November 27th to file a suit for raising capital. We will certainly do this in time’, Anna Pawelska, BGZ spokesperson said. The transaction will be conducted on Friday most probably.
Last Friday, Rabobank Nederland and its partner European Bank of Reconstruction and Development got the approval of the Exchange Supervisory Commission to acquire the stock issued by BGZ. The bank will get PLN 510.8 million (EUR 121.1 million). After the capital is increased, BGZ’s bank-investors owning 28.4 percent of the shares will sell their stakes, too. Rabo Group, the main buyer will offer the minimal price. All Polish banks want to accept the offer. Bank Polskiej Spoldzielczosci will earn PLN 200 million, Gospodarczy Bank Wielkopolski over PLN 105 million, and Mazowiecki Bank Regionalny around PLN 48 million.
(PLN 1 = EUR 0.237)