Belgian Fortis calls tender for remainder of PPA Bank

The Belgian Bank declared it wants to buy all the shares of the Krakow-based bank. Currently, Fortis Bank holds 68.55% of PPA Bank share capital. The tender is for all the remaining listed shares of the bank and those that haven't been registered yet. The subscription for the shares will be held from Oct. 14 to Nov. 15. The tender will be conducted by Pioneer PDM brokerage. The price of the tender, zl. 40.10, was set after the last transaction when the Belgians bought 58.8% of PPA Bank shares from the Polish American Enterprise Fund and Enterprise Financial Corporation at zl. 42.1 per share. (Rzeczpospolita, page B8)