Dutch insurer Eureko will purchase a stake of 10% in PZU from Bank Millennium for zł.1.6 billion
Published:
5 January 2005 y., Wednesday
Dutch insurer Eureko will purchase a stake of 10% in PZU from Bank Millennium for zł.1.6 billion.
The transaction is due to be completed before the end of this year. The reaction of investors following the decision was rather negative and sent Millennium's share price tumbling by 5.7% to zł.3.3.
"We signed the contract on Tuesday. We will receive payment in two tranches. The first one will be transferred by the end of the year, while the second after the public offer of PZU (planned by the end of May 2005)," said Bank Millennium spokesman Wojciech Kaczorowski. The transaction will be executed only after Eureko receives the green light from the Competition and Consumers Protection Office (UOKiK). Due to the fact that Millennium estimated the value of the stake at zł.1.19 billion in its books, and bought it for zł.1 billion, the selling price is very favorable. "This is the minimum sum on the contract," added Kaczorowski.
Šaltinis:
wbj.pl
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund (IMF) mission led by Mr. Hunter Monroe of the IMF’s Western Hemisphere Department visited Dominica during January 18-28 for the annual Article IV discussions on economic developments and macroeconomic policies.
more »
Experts in agriculture and government authorities coincided in requesting new management mechanisms and market regulation to protect the farming sector from the price crisis and enable generational changeover in rural areas at the European Congress of Young Farmers, organised by the ASAJA-Seville agricultural organisation.
more »
Immediate action is required to solve Europe's skills deficiencies and give Europeans a better chance of labour market success in the future, says an independent expert report published by the European Commission today.
more »
The European Investment Bank (EIB) is lending EUR 15.5 million to upgrade water supply and wastewater treatment in the City of Mykolayiv (southern Ukraine) and EUR 100 million to finance small and medium-sized investments in the areas of SMEs, energy efficiency and the environment in Ukraine.
more »
The European Commission can confirm that on 20 January 2010 Commission officials carried out targeted inspections at the premises of producers of Flexible Alternating Current Transmission Systems (FACTS).
more »
The European Commission has authorised today under the State aid rules a Lithuanian scheme worth LTL 10 million (approximately EUR 2.9 million) aimed at supporting farmers who encounter difficulties as a result of the current economic crisis.
more »
The effects of the global food, fuel and economic crisis would be felt by Africa’s people for some time yet and it was important to persist with efforts to protect the most vulnerable while laying the foundations for future productivity and growth, World Bank Group President Robert B. Zoellick said Tuesday.
more »
Mongolia’s herders have learnt a hard lesson this winter; a lesson that can perhaps be applied to managing Mongolia’s economy.
more »
DnB NORD Bankas, the leader of the country’s in investment products market, raises initial margin ratio for repurchase deals for most actively traded Lithuanian and Estionian shares.
more »
With over 23 million unemployed in the Europe Union and the jobless figure having risen in every member state since last year, how Europe is coping with the crisis and the effect on pension systems were discussed on Thursday 28 January.
more »