PFR will consider selling its Bank Pekao stake in 3-5 years

The Polish Development Fund (PFR) will consider selling its stake in Bank Pekao in three to five years, PRF CEO Paweł Borys told the Polish Press Agency (PAP) “Selling the entire 12.8 percent stake via the stock exchange and keeping a control stake at PZU, with the rest being in free-float, is a good idea,” Borys said. PFR along with state-owned insurer PZU signed a deal to buy a 32.8 percent stake in Pekao from its Italian parent Unicredit for PLN 10.59 billion. The deal is expected to be finalized in Q2.