State treasury sells off Bank BGZ shares
PR dla Zagranicy
John Beauchamp
12.01.2015 09:39
The State Treasury has sold off its shares in lender Bank BGZ following demands from BNP Paribas for minority shareholders to sell off remaining sharers ahead of a takeover of the Polish bank.
Branch of Bank BGŻ. Photo: cc/wikipedia
The share unit price was PLN 80.47, with revenue from the sale amounting to PLN 736,944.26 (around EUR 170,000).
“The share sale made up 0.0001 percent of Bank BGZ’s nominal capital, with the State Treasury not holding any shares [in the bank] following the transaction,” the treasury ministry released in a statement.
The move comes after an agreement was signed by BNP Paribas and Rabobank International Holding B.V. on the share purchase of Bank BGZ, which stipulated that all minor shareholders must sell the remainder of the lender’s shares.
In October 2014 the boards of BGZ and BNP Paribas Polska agreed to a merger of the lenders, which will create the Bank BGZ BNP Paribas. The fusion is set to take place in the first half of 2015 after the relevant permissions are granted. (jb)
Source: ISBnews