Locked content M&A transactions fall by half y/y in Q3

The number of M&A transactions reached 33 in Q3 compared to 66 contracts a year earlier, according to Alicja Kukla-Kowalska of Fordata. After the first three quarters of 2016, a total of 132 transactions took place, compared to 177 in 2015. “The fact that, compared to the years 2013-2014, the Po...

Locked content Pekao sold mortgage bonds worth PLN 50 mln

Pekao Bank Hipoteczny, a mortgage unit of large-cap bank Pekao, has sold mortgage-backed covered LZ-II-14 series bonds worth PLN 50 million in total, the bank informed on Friday. The issue was made in the framework of its PLN 2 billion bonds program. In July, Pekao Bank Hipoteczny had its PLN 1.3 bi...

Locked content State Treasury backs takeover of Pekao

Treasury Minister Dawid Jackiewicz said Poland should increase its engagement in the banking sector and use the “unique possibility” to take over Unicredit’s unit Pekao SA. Earlier, Finance Minister Paweł Szałamacha said state-owned insurer should acquire the lender at a “fai...

Locked content PZU considers taking over Pekao and Raiffeisen Polska

Poland’s state-run insurer PZU will consider taking over Bank Peako, owned by Italy’s Unicredit and the Polish unit of Austria’s Raiffeisen, PZU’s CEO Michał Krupiński told Dziennik Gazeta Prawna daily. “As PZU we will be considering taking over Pekao and Raiffeisen,...

Locked content Poland interested in stakes in UniCredit and Raiffeisen Polbank

Poland would be interested in buying UniCredit and Raiffeisen Polish units, to increase control over the banking sector, which is currently 60-percent owned by foreign investors, Poland’s Treasury Minister Dawid Jackiewicz said on Thursday. According to the official, Poland is interested in po...

Locked content Pekao CEO rules out the sale of Polish unit by Unicredit

The chief executive of Poland’s Bank Pekao, Luigi Lovaglio, told reporters on Monday he ruled out the possibility of Italy’s UniCredit selling the Polish unit. A few weeks ago, Bloomberg said that Italy’s Unicredit was considering selling a 50.3 percent stake in Poland’s second-lar...

Locked content UniCredit issues bonds worth €750 mln

Rome-based UniCredit, the strategic investor at Pekao has issued 10.5 year bonds valued at €750 million, the company reported. “More than 150 institutional investors became interested in the transaction (mainly funds – 90 percent of the final allocation). Records on the the amount of mor...

Pekao eyes Bank BPH

Since talks between GE and PZU regarding the sale of Bank BPH broke off, billionaire Leszek Czarnecki has been left alone at the negotiating table. Puls Biznesu reported that Czarnecki may face a new competitor, Pekao.