PZU, PFR to finalize Pekao purchase on June 7

WSE-listed insurer PZU and state-owned development fund PFR will finalize the purchase of a 32.8 percent stake in WSE-listed bank Pekao from Italy's UniCredit on June 7, PZU said in a market filing. Back in 2016, Polish insurer PZU and Polish Development Fund PFR agreed to buy 32.8 percent of Bank Pekao shares from its owner, Italian UniCredit for PLN 10.6 billion. The remaining UniCredit stake in the second biggest Polish lender (7.3 percent) will be sold on the market via equity-linked certificates. After the transaction, PZU will hold a 20 percent stake, while PFR will have 12.8 percent shares of Pekao.