Polish Treasury is no longer BGŻ Bank shareholder

The Polish National Treasury sold its BGŻ Bank shares, the Ministry of the Treasury informed. Selling 0.0001 percent of the lender’s stakes, the Polish treasury earned PLN 736,944. The price was around PLN 80.5 per share. According to a deal between BNP Paribas and Rabobank the two lenders would acquire BGŻ stakes through requiring the rest of the shareholders to sell all of the stakes at their disposal. Under the agreement signed in October 2014, BGŻ and BNP Paribas are to merge and create a new entity – Bank BGŻ BNP Paribas. The merger is to take place in mid-2015. BGŻ was founded in 1975 and has been one of the leading Polish banks for years. BNP Paribas is present in over 80 countries. The French lender started operating in Poland in 1919 as Société Générale de Banque.