PZU looking for potential takeover deals abroad

WSE-listed insurer PZU is seeking takeover opportunities among foreign insurance companies, the Development Ministry said. “The PZU group is seeking possibilities of creating added value through takeovers of insurance firms, which will be the basic M&A targets in foreign expansion,” the Ministry's statement said. “The market is being monitored on an ongoing basis for companies with significant market share and firms with large development potential,” it concluded. The lender is also mulling further investments in the banking sector after acquiring Pekao and Alior Bank recently. However any potential deals in this sector will be done through Alior Bank's operations. “Alior Bank can still count on PZU support if attractive entities for takeover appear,” the document read.