Alior holds over 90% in BPH
02:40
Commercial lender Alior Bank bought 46.5 million shares in Bank BPH under the tender offer for 50.6 million shares (66 percent stake) and will seek a squeeze-out of minority shareholders after the end of the offer, the bank informed.
Following the transaction settlement due on August 24, Alior and BPH parent GE will jointly hold over 90 percent of voting rights in BPH.
In July, Alior Bank was granted with approval from financial regulator KNF for the takeover of Bank BPH.
On July 11, Alior Bank announced a tender offer to buy 66 percent of the shares in Bank BPH at PLN 31.18 per share (which was later revised to PLN 31.19 per share). The offer was a part of the acquisition of domestic rival BPH's core business, making Alior the ninth-largest lender in Poland.
