BPH in the hands of the Aliora and GE – Republic

Raiffeisen polbank in the way of compulsory redemption of shares of BHP bought out the minority shareholders 0,443 million advantages of this Bank, which is 0.58 percent. capital and votes. The purchase was conducted between September 21 and 23, the stock skupowano after 31,19 apiece, that is, at the same price for what I bought Alior Bank’s shares in the invitation, which was held in August. Then he more than 46.5 million shares of BPH, representing approximately 60.7 per cent. capital and total votes. Together with the GE Group had a total of about of 99.42 percent. all shares of Bank BPH.

When carrying out a compulsory redemption of all shares of Bank BPH in the hands Aliora (61.3 percent. full), as well as individuals associated with the American General Electric (38.7%).

will Then be paid to the division of BPH, in which the Bank’s activity will be included in the Aliora, as part of the consideration of the mortgage will remain in Bank BPH. After separation, GE will be the sole owner of BPH (deal does not include BPH TFI). For the whole of the main part of the Alior Bank will pay about 1.5 billion rubles, which will Finance with the June issue of shares with the right of appeal (it is 2.2 billion rubles, of which the remaining approx. 500-600 million rubles will go to replenish capital.

the acquisition of the core activities of the Bank BPH fit the strategy of development of the Aliora, which envisages an increase in the basis of organic development and acquisitions, combined with the achievement of a higher level of profitability of capital. As a result of absorption of the selected part of BPH, Alior qualification 9. the positions of the largest banks in Poland in terms of assets (from 10. at the end of the first half of this year). The deal will bring to the implementation of the strategic Ltd for inclusion in the 5-6 largest banks in Poland in the next few years.