Fosun to buy BPH – media

Image : Henryk Borawski/WIkimedia

According to Puls Biznesu daily, Chinese investment fund Fosun is interested in acquiring Bank BPH from General Electric.

The lender, after the sale of its commercial part to Pekao (which later transferred it to Alior Bank), services on only FX mortgages, and doesn’t plan to expand its operations, as GE is looking to offload all financial subsidiaries globally.

Puls Biznesu quotes unnamed sources saying that “Chinese have a lot of money to burn and they’re buying everything that’s for sale in Europe.”

In recent years, Fosun bought stakes in such financial institutions as Banco Espirito Santo, Deutsche Bank, Banque International a Luxemburg, Hauck&Aufhauser. Portuguese Banco Espirito Santo owns Polish Bank Millennium.

According to the daily, Fosun got a green light to negotiate the takeover as BPH is an inactive bank and is under full KNF supervision.

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