UniCredit began selling 10 percent. Pekao, the second largest bank in Poland. It is therefore about 26.2 million shares, or 20 percent. owned by UniCredit on Pekao. Currently, the Italian financial institution has 131.5 million shares, representing 50.1 per cent. the bank’s capital. This package is worth 17.7 billion zł (at Tuesday’s closing rate at the level of 134.6 zł) and put up for sale – 3.5 billion zł. The whole Pekao, whose course through the year fell by 14 percent. (Ie, less than the WIG-Banki, which fell by 19 per cent.), Is worth 35.3 billion zł.
UniCredit, having one of the lowest in Europe solvency ratios, confirmed that the transaction is aimed at strengthening its capital position while maintaining a controlling stake in the company. Therefore, the earlier information that UniCredit is considering the sale of shares of Pekao and Turkish Yapi Kredi and Italian broker online FinecoBank.
On Tuesday morning, UniCredit sold a 10 per cent. FinecoBank action. – This is another strong signal that UniCredit will act firmly and smoothly, to take advantage of value-creating opportunities in line with the renewed focus on disciplined capital management and proactive on capital optimization. In the meantime, UniCredit confirms that its main purpose is to provide its unique the West, Eastern and Central European network for its extensive customer base.
Today, PZU CEO Michael Krupiński powiedziiał in the Third Programme of Polish Radio that the company will look at acquisition opportunities Raiffeisen and Pekao. – We have the appropriate analysis circumstance acquisition of additional banks. PZU has a capital surplus that could be better used for the acquisition of other banks – he added.
Private offer is addressed solely to qualified institutional investors, and the final parameters of the sale of shares will be determined on the basis of the declaration submitted by investors under ABB. Opening the book-building can be completed at any time. Price and allocation will be announced after the close of the book-building. UniCredit reserves the right to change the terms or the terms of the Private Placement at any time.
Morgan Stanley & amp; What. International plc, Citi, UBS Limited and UniCredit Corporate & amp; Investment Banking act as Joint Bookrunners (ang. Joint Bookrunners) for the Offer. UniCredit pledged to respect the 90-day restrictions on transfer of the remaining shares of the bank (a fairly short period of time, usually used 360-day records, or at least 180).
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