Bank Austria Creditanstalt (BA CA) shares were suspended from trading yesterday after Unicredit announced the price at which it is going to buy the stock of the Austrian rival. The Italians are going to pay EUR 129.4 a share and buy 7.8m shares owned by small shareholders and amounting to 3.65 percent of the capital. They have to spend EUR 950m for the acquisition. The GSM to approve of the transaction meets on May 3rd.
Unicredit controls two banks in Poland, including BPH and Pekao. Part of BPH will be sold as the so-called mini-BPH. The Italians are analyzing the offers from potential investors. They will also have to buy the remaining stock of BPH. The other part of BPH will be merged with Pekao.