Bayerische to inject capital into BPH acquiring 81% stake

The capitalization will be done through a share issue targeted at the bank's shareholder Germany-based Bayerische Hypo-Vereinsbank (BHV). After the plan is carried out BHV will acquire a 81.46% stake in BPH. However, BHV received permission from the Banking Supervisory Commission (KNB) only to hold 66% of shareholder votes in BPH. "We [BHV] will soon start negotiations with the National Bank of Poland (NBP) on this subject [voting rights]," said BPH supervisory board chairman Stephan Schuller. "As long as there are no changes we will vote in accordance with our current rights," he added. The share issue will boost the bank's capital to over zl. 2.3 billion. (Prawo i Gospodarka, page 1, 7)