Tender for BGŻ successful

The tender announced by BNP Paribas for shares in Bank Gospodarki Żywnościowej (BGŻ) resulted in subscriptions for the sale of 41.88 million shares, the deal’s manager DM Banku Handlowego said in a statement on Thursday. Sellers offered 36.87 million shares traded on the Warsaw Stock Exchange and 5 million other shares. The share purchase will be concluded on September 23, the broker also said. The Rabobank group sold 74.39 percent in BGŻ in the tender. In December 2013, BNP Paribas announced it had agreed to buy 98.15 percent in BGŻ from Rabobank for PLN 4.2 billion.