PKO BP to gain about PLN 400 mln due to Visa merger
20:53
Poland’s largest state-controlled lender PKO Bank Polski will receive €66.2 million (PLN 292.3 million) in cash and €22.7 million (PLN 100.2 million) in Visa Inc. shares in exchange for its stake in Visa Europe, the bank informed in a market filing.
The provisions of the transaction is expected to be completed in the second quarter of 2016.
In November last year, Visa Inc. and Visa Europe announced the final deal on the merging of the two organizations into one global company. The total cost of transaction amounts to $23.3 billion (PLN 91.2 billion).
PKO BP, the leader in Polish banking, has been listed on the WSE since 2004.
