Rabobank to acquire control over BGŻ for zł.381 million

The shares will be purchased from cooperative banks which are exiting BGŻ. The sale will give cooperative banks roughly zł.381 million provided the share price remains at zł.48, which was the price Rabobank paid for the latest share issue. The purchase will give Rabobank a 35.24% stake in BGŻ and make it the second largest shareholder after the Treasury, which will control 43.26% of the bank's shares. Other shareholders include EBRD with 15%, BGŻ employees with 6.12% and BGŻ itself with 0.28%. The change in the ownership structure was made possible thanks to the November 19 ruling of Banking Supervisory Commission, which agreed to allow Rabobank to acquire a controlling stake in BGŻ, which will be the case if Rabobank's and EBRD's stakes are counted collectively. (Parkiet p. 1) M.G.