“If everything goes according to plan and will be implemented following the steps of this transaction, there is a huge chance that the +bison+ return from the Italian land to Poland”, – he said at the conference Krupiński. He explained that, in General, ROM and Russian Development Fund purchase from UniCredit of almost 32.8 per cent. stock, this ROM will buy 20 percent. plus one action.
“we have Received, in our opinion, attractive price for the stock, which is 123 gold. This means that the total cost of the package is RUB 10.6 billion. This price is 1.3 book value of the Bank (…). We believe that this is a good opportunity because of the discount, for the six-month average price of the Bank and the fact that the Bank recorded historically low rates over the past few months,” said Krupiński.
he Added that Pekao is the leading Bank in Poland, with the largest exposure to loans and deposits, the corporate has a very strong, secure long-term growth prospects.
he Noted that the acquisition fits in the strategy of PZU for the production of the banking group and dywersyfikowanej financial group in Poland. “Through this transaction zdywersyfikowaną PZU is the largest financial group in Central and Eastern Europe”, – he stressed.
he Pointed out that the insurer does not provide for the increase of Pekao shares, at General meetings of the Bank ROM will vote together with the PFR. “For us it is a strategic investment and, therefore, our aim is to consolidate the Bank in our financial results,” he said. He added that PZU is also counting on “a solid net profit shares”.
he Assured that the new owners of Pekao to assess the current Board of Pekao, and his work has a solid and very good reflection in the results of Pekao as the market situation in the Bank. “We anticipate that in the future will be managed in a safe way,” he said. According to him, the Bank’s strategy in all key segments will continue.
“we Found the additional investment in technology that (…) will allow to increase efficiency and improve the offer and the growth of the Bank. We anticipate maintaining the current stable policy dywidendowej. We will strive to ensure that the Bank to pay maximum dividends (…). Found also a continuation of a very profesjonalych practices of corporate governance independence of Supervisory Board members,” he said.
the Chairman of the PFR Paul Boris explained that the operation was carried out efficiently and professionally, and investors got good conditions. Boris indicated that PFR wants to implement investment projects, which is important from the point of view of the Polish economy and partners that PFR intends to support. “A project of this kind”, – he said. He added that the deal should have a positive impact on the development of the Polish banking sector.
“we Believe that this investment is just good business. As the PFR, we expect to achieve return on investment in the amount of about 10 percent. plus. We are funding this investment from its own funds, but also (…) we want largely to Finance it from external sources”, – said Boris.
he Added that after the transaction in the hands of UniCredit. 7 percent. shares, and in conversations with the Italian group, it was found that UniCredit will remain a shareholder in Pekao, and will probably be for about three years.
Boris announced that Pekao UniCredit will conclude with a long-term agreement on the strategic attitude of the international customers to provide them the same quality of services as at present. In addition, Pekao, will be 100%. the owner of the shares of Pioneer TFI, Xeliona and PTE, for which he will pay more than UAH 600 million.
the Chairman of the PFR, he added that after three years, UniCredit will also be-in new owners of Pekao possible losses that may arise in connection with the possible conversion of loans owned by Pekao frankowych. He explained that the share of such loans in Pekao is negligible and is barely 2.7 percent. assets.
“We have a definition that UniCredit will not be in the next few years buying banks in Poland will not be provided by branches. In other words, we had agreed on strategic cooperation, eliminating the risk of competition on the Polish market,” he said.
in Line with presented at the conference on schedule, shortly will be filed with the relevant statements, as in the KNF and UOKiK and competition authorities in Ukraine, because of a commitment to ROM and Pekao on the market. “We expect appropriate approvals agencies by the second quarter of next year that will warunkować final closing of the transaction,” – said the Chairman of the Krupiński.
the ROM and PFR assured that these players want to be long-term investors in Pekao. Explained in addition, payment for shares of Pekao should be implemented in the Russian ruble. “We will strive to ensure that potential settlement of this transaction (…), these later exchange of the national currency through UniCredit on the Euro, could be held outside of the market, so as not to affect the exchange rate, potentially with the participation of BGK and the BANK”, – said Boris.
PZU announced Thursday in a press release that negotiations aimed at the conclusion of the acquisition of a significant stake in Bank Pekao through ROM working in consortium with the Polish Foundation for the Development of UniCredit. Installed the purchase of 32.8 per cent. shares of Pekao for 10.6 billion rubles, including PZU will pay of 6.46 billion. Added that buyers will pay for the shares of the Bank after 123 UAH.
“the Essence of the transaction contemplated in the SPA, it is acting in concert acquisition of PZU SA and PFR, a significant (covering ultimately good. 32.8 per cent. the total number of votes) stake in the Bank. The transaction will be implemented in a structure consisting of two phases. In the first phase of PZU SA will acquire from the Seller 100%. of shares in special purpose vehicles (“SPV”), which owns the Bank’s shares, representing approx. 20%. the total number of votes, and, at the same time, the PFR will make a direct acquisition of the shares representing approx. 10 percent. the total number of votes. In the second stage, after falling at least 60 days from the first purchase, the PFR will make the immediate acquisition of the remaining stake in the Bank under the SPA, representing approx 2.8 percent. the total number of votes (collectively, the “Transaction”)”, – reads the message.
UniCredit was the owner of Pekao SA since 1999.(PAP)
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