Bankgesellschaft takes sliver of BIG BG, eying slice

Bankgesellschaft Berlin (BGB) announced yesterday it purchased 4.95% of BIG Bank Gdanski (BIG BG) shares paying zl. 7.1 each from investment bank Julius Bear. The transaction was discussed with other BIG BG shareholders and BGB is strongly interested in further investments in the Polish bank, said BGB president Wolfgang Rupf. Theoretically, the BGB purchase was no surprise because the German bank started its talks with BIG BG several years ago. However, the deal faded and Deutsche Bank made an attempt to takeover BIG BG. It was however the Portuguese Banco Comercial Portugues (BCP) which won that battle, controlling with insurer Eureko and other cooperating entities over 60% of BIG BG. "At the present time we are holding talks with BCP, which should result in both banks having 50% of BIG BG shares," said BGB board of directors member Michal Jonczynski. (Prawo i Gospodarka, page 1)