OTP withdraws bid for FM Bank
14:16
Hungarian lender OTP Bank has withdrawn its bid to buy FM Bank PBP, according to an anonymous source quoted by Reuters.
OTP Bank was one of the candidates to buy FM Bank, among Polish banks, Alior Bank and BOS Bank, and a private equity firm, AnaCap Financial.
The Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) ordered the sale of FM Bank after its owner, Abris Capital Partners, had failed to consult on the choice of the CEO with the watchdog. In return, Abris Capital sued Poland for $553.40 million, arguing it will incur losses because of the state's actions.
Abris and OTP refused to comment on the isssue.
Abris is an independent private equity fund manager focused on the major countries of Central and Eastern Europe.
