EBRD sells 9% BPH stake to Hypo-Und Vereinsbank.

Earlier this month, BHV acquired a 36.9% stake from the State Treasury at zl. 480 per share for a total of zl. 2 billion. EBRD requested a similar price for its share in BPH but finally agreed to the sale at zl. 420 per share. The remainder of shares needed to make BHV the owner of a majority stake in the bank are still owned by EBRD and talks concerning another sale are under way. According to the deal, the German bank will keep its office in Krakow, making BPH its sole representative in Poland. (Prawo i Gospodarka, page 7)