Friday, September 19, 2014

The company on: BNP Paribas and BGZ merge, but not soon – Money.pl

The company on: BNP Paribas and BGZ merge, but not soon – Money.pl

2014-09-19 11:01

 Company on: BNP Paribas and BGZ merge, but not soon

[Photo: BNP Paribas Bank Poland]

BNP Paribas Bank Poland Bank connects to the Food Economy in the first half of 2015. This information gave today a bank with headquarters in France. Before this happens, BNP Paribas will acquire a majority stake in BGZ. Consent to the transaction has already expressed the European Commission and the Financial Supervision Authority has not objected.

As part of the merger are exchanged benefits such as strengthening capital, improve liquidity, expanding sales network, better competitive position in the market, the use of synergy effects in terms of reduced operating costs and to strengthen and The Governance simplify the system.

The overall strategy of the BNP Paribas Group includes the creation of a larger, but still medium-sized universal bank in Poland – in the communication of the company.

As previously announced merger will be effected through the acquisition of BNP Paribas Bank of Poland by BGZ.

The new owner will share in the tender offer announced on August 25. In total, in the hands of a new owner gets into 36 866 424 shares dematerialized listed and 5 005 824 shares niedematerializowanym that are not publicly traded. A total transactions of 41 872 248 shares of 56 138 764, which were subject to call. In the hands of Rabobank will remain about 10 percent of the shares.

President of BNP Paribas said that after the legal merger will adopt a common brand. The new merged bank is to operate under the name of Bank BGZ legal BNP Paribas. – As previously announced, is also planned transfer of selected areas of corporate banking activities of BNP Paribas SA Branch in Poland for the merged bank and the combination of activities Sygma Banque SA branch in Poland with the activities of the merged bank – written in the message.

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Exchange Bank BGZ not changed much today. You can see that investors have already discounted the whole situation related to the acquisition. Large movements do not show the shares of BNP Paribas. Both companies recently passed a large increase, and therefore it can be expected that the combined entities will cope quite well.

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