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
The financial crisis is having a serious impact on low-income countries.
more »
The agreement was welcomed by the EU, which has led efforts to crack down on loose banking practices that caused the financial crisis.
more »
On 31 March this year, the boards of AB Bank SNORAS and AB “Invalda” approved of the purchase and sales transaction of AB “Invalda” financial group's companies.
more »
MEPs will vote on Thursday 2 April on a first reading agreement on the voluntary EU Ecolabel (“EU flower”) system for environment-friendly products to become less costly and bureaucratic to use.
more »
The fourth quarter of 2008 was not so good for the banking industry, and the financial conditions of commercial banks and savings and loans is expected to further deteriorate for the rest of 2009 and the first part of 2010, according to LACE Financial Corp.
more »
MEPs recently gave the green light to a new trade deal between Europe and Caribbean countries.
more »
New VoIP Features Boost Flexibility, Mobility, Cost Savings for Organizations Seeking to Untether Workers.
more »
According to the revised data, in IV quarter 2008, GDP at current prices made LTL 28578.8 million and against IV quarter 2007 decreased by 2.2 per cent.
more »
The EP Fisheries Committee rewrote the rules on recreational fishing in its consultative report, adopted Tuesday, on a proposed “control regulation” to ensure compliance with common fisheries policy (CFP) rules.
more »
In a measure of the Union’s strong growth prior to the financial crisis, the demand for EU trademark rights has shot up in recent years, creating an unexpected budget surplus.
more »