First public tender gives BRE 93.87% vote in PBR

The bank also called a new tender yesterday for PBR shares at zl. 28.5 each, up from zl. 24.3, according to the Warsaw Stock Exchange (WSE). Yesterday Powszechny Bank Kredytowy (PBK) decided to sell its 32.9% stake in PBR to BRE, eliminating Sweden's Skandinaviska Enskilda Banken and Germany's Bayerische Landesbank from the bidding war for shares. The Swedish bank said yesterday that it did not plan to acquire any shares in PBR now that it was blocked from acquiring a significant majority interest. Also, the State Treasury (29.5%) and the Industrial Development Agency (15%) decided to sell their stakes to BRE. (Gazeta Wyborcza, page 24, Reuters)