PKO BP frontrunner to take over AIG's Polish bank assets
The value of its assets are estimated at zł.1.5 billion, with PKO BP rumored to be the buyer. "An information memorandum has been sent to interested firms. We will wait for the final offers by the end of November. The following phase will be AIG Bank's due diligence," said a person close to the transaction.
The deal should be concluded by the middle of December, but none of the banks associated with the transaction would comment on the news. "There is an opportunity of using the situation and strengthening our institutions to take over weaker institutions in the region, not only in Poland," said Waldemar Pawlak, deputy PM.
Despite that, AIG is the 20th largest bank in Poland, it has 2 million clients and is one of the most profitable in the sector. If PKO BP took over AIG Bank it would regain its leading position on the market, ahead of Pekao.
Source: Rzeczpospolita
The deal should be concluded by the middle of December, but none of the banks associated with the transaction would comment on the news. "There is an opportunity of using the situation and strengthening our institutions to take over weaker institutions in the region, not only in Poland," said Waldemar Pawlak, deputy PM.
Despite that, AIG is the 20th largest bank in Poland, it has 2 million clients and is one of the most profitable in the sector. If PKO BP took over AIG Bank it would regain its leading position on the market, ahead of Pekao.
Source: Rzeczpospolita
