SEB finally pulls out of BOŚ and gets zł.576.9 million

For the 47.5% stake the Swedish firm will receive zł.576.9 million, which translates into zł.92 per share. "We wanted to obtain 100% control over BOŚ, but we didn't manage to do so," explained Mats Kjaer, deputy managing director at SEB. The transaction will be finalized by mid 2006 at the latest. This also means that NFOŚiGW will have a more than 94% stake in BOŚ. SEB's representatives declared that although the firm did not manage to take over the Polish bank, the Swedish company has no plans of withdrawing from Poland. SEB wants to open its division in Poland as quickly as possible and to develop its investment fund company as well as leasing activity. Mats Kjaer did not want to reveal whether SEB would try to take over any other Polish bank. (Parkiet, p. 3) A.F.