11 suitors lining up for BPH stake
Not all of the 11, though, are expected to place final offers with the State Treasury by this Tuesday's deadline.
The initial list of suitors includes banks that either already have some sort of operations here or have a long-standing interest in investing in the Polish market. Krakow-based BPH is seen as one of the most attractive banks with a significant stake still in state hands.
"First of all, it's a very good bank," said Artur Szeski, analyst with CDM Pekao. "Secondly, it is one of very few left for sale."
The banks had expressed their initial interest last month and must submit a final offer by this Tuesday, June 16. The State Treasury will then have 90 days to whittle the bidders down to a short list of two or three potential buyers. But there is no deadline for picking a final investor, according to the Treasury Ministry's press office.
According to sources close to the privatization, the banks thinking of pursuing BPH are: Bank Handlowy, BIG Bank Gdanski, ABN Amro, ING Barings, Bank of America, GE Capital Bank, Skandinaviska Enskilda Banken (S-E-Banken), another as yet unnamed Scandinavian bank, Allied Irish Bank, Deutsche Bank and Bayerische Landesbank (BLB).
The initial list of suitors includes banks that either already have some sort of operations here or have a long-standing interest in investing in the Polish market. Krakow-based BPH is seen as one of the most attractive banks with a significant stake still in state hands.
"First of all, it's a very good bank," said Artur Szeski, analyst with CDM Pekao. "Secondly, it is one of very few left for sale."
The banks had expressed their initial interest last month and must submit a final offer by this Tuesday, June 16. The State Treasury will then have 90 days to whittle the bidders down to a short list of two or three potential buyers. But there is no deadline for picking a final investor, according to the Treasury Ministry's press office.
According to sources close to the privatization, the banks thinking of pursuing BPH are: Bank Handlowy, BIG Bank Gdanski, ABN Amro, ING Barings, Bank of America, GE Capital Bank, Skandinaviska Enskilda Banken (S-E-Banken), another as yet unnamed Scandinavian bank, Allied Irish Bank, Deutsche Bank and Bayerische Landesbank (BLB).
