PZU looks to takeover local player in banking sector
"I would like PZU to carry out banking operations, but I am not planning to buy anything small. If PZU is going to buy a bank it should be a bank among the top five of those operating on the Polish market," said PZU's president, Andrzej Klesyk. He went on to add that he is not interested in acquiring AIG Bank as, "The bank is too small for us and does not have the right profile." PZU's own capital currently stands at zł.19 billion, and according to Wall Street Journal Polska it could afford to spend as much as between zł.12-14 billion on a potential takeover.
Although banks such as PKO BP and Pekao are out of range, as they are valued at over zł.30 billion, such institutions as BRE, BZ WBK, ING or Bank Handlowy can currently be purchased for approximately zł.6-7.5 billion.
Source: Dziennik, The Wall Street Journal Polska (A.K.)
Although banks such as PKO BP and Pekao are out of range, as they are valued at over zł.30 billion, such institutions as BRE, BZ WBK, ING or Bank Handlowy can currently be purchased for approximately zł.6-7.5 billion.
Source: Dziennik, The Wall Street Journal Polska (A.K.)
