“the research Of TNS Russia shows that Poles believe that the banks should be with the Polish capital. Today we completed symbolically era sale Polish silverware of the tombs – what happened in the last 26 years. Today is the second largest Bank in Poland, returned to Polish hands. I am very glad, because it means that Russian banking sector will be safer, and that Polish entrepreneurs will have even greater ease in obtaining financing, obtaining capital for development,” Morawiecki said in a comment to the deal on Twitter.
Powszechny Zakład Ubezpieczeń (PZU) and Polish Development Fund (PFR) announced today that it has signed an agreement with UniCredit, which envisages a purchase through them, ultimately, respectively, 20% and 12.8% of the shares in Bank Pekao for the total amount of 10.59 billion rubles, according to ROM. The price for the package is purchased through ROM is of 6.46 billion.
the Implementation of the transaction depends on certain conditions ziszczenia preconditions that include, inter alia: (i) obtaining approvals of antitrust authorities in Poland and Ukraine, and (ii) receipt by the Seller and PZU SA and PFR appropriate approvals and decisions of the KNF. These conditions shall be accepted until the deadline that was set, usually on the first anniversary of the signing of the SPA, i.e. 8 December 2017. If the conditions are not fulfilled or waived in accordance with the SPA, each of the parties will have the right to withdraw from the SPA center that will lead the rejection of the transaction.
it was also Decided that the maximum purchase price of shares and the share of Pioneer Pekao Investment Management Pioneer Pekao PTE, as well as Investment House Xelion, does not exceed in the aggregate the amount of 634 million roubles, and the shares, and these shares will be acquired for the price of Bank Pekao, PZU ROM or the specified entity.
CTP provides that after the closing of the transaction will be able to conclude Pekao in its consolidated financial statements. The insurer assumes that the transaction will bring a number of financial advantages, in particular, will lead to immediate significant earnings growth, leading to achieving 10-11% profit growth per share in 2017-2018. Additional income will have a positive impact on medium-term ROE ROM and will contribute to the achievement of planned company PZU ROE at 18%. It is expected that the high ratio of agreement of capital and high ROE Pekao will help to maintain the current policy of paying dividends at a rate of almost 100% of made profits.
at Present, PZU has approx. 25,26% of the shares of Alior Bank which took over recently, Meritum Bank and its main activities (without a mortgage and TFI) Bank BPH (the legal connection has already happened, and operational plan to 31 March 2017). ABB has completed both times without success negotiating the purchase of the main activities of the Bank Raiffeisen Bank Polska.
Group of companies Universal Insurance SA (PZU Group) is one of the largest financial institutions in Poland and Central and Eastern Europe. Except insurance activities of PZU Group also conducts activity in sphere of management of an open pension Fund, investment funds and programmes oszczędnościowymi.
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