BNP Paribas agree with Rabobank on BGŻ squeeze out

BNP Paribas has signed an agreement with Rabobank in the squeeze out process of the shares of the BGŻ bank. BNP Paribas will be purchasing all the BGŻ shares remaining in circulation, while Rabobank has undertaken not to purchase any within the next 12 months. Before the agreement, BNP Paribas held 88.98 percent of all BGŻ shares and Rabobank had 9.99 percent. Together the two lenders now hold 55,566,612 shares , which corresponds to 98.98 percent of the share capital. In October 2014, BGŻ and BNP Paribas have decided to merge and create BGŻ BNP Paribas. The legal merger is planned to be completed in H1 2015, after obtaining all permits.