Leading Dutch bank Rabobank will likely become a strategic investor in state-owned BGŻ, a bank servicing mainly the agriculture sector
Published:
3 September 2004 y., Friday
Leading Dutch bank Rabobank will likely become a strategic investor in state-owned BGŻ, a bank servicing mainly the agriculture sector.
Rabobank is to acquire a 28.8% stake in BGŻ together with the European Bank for Re construction and Development (EBRD). Following the new BGŻ share offering directed to these two investors, the State Treasury would have a 50% stake in the bank. Rabobank and EBRD are rumored to have beaten off another consortium vying for the BGŻ stake, one which includes Western investment funds, by offering a better price. In order for the deal to go through, however, BGŻ statutes have to be amended to eliminate the privileged p osition of the Treasury among shareholders. BGŻ is the 10th largest bank in Poland in terms of asset size and one of just three still controlled by the state (BGK and PKO BP being the other two). It has almost 300 outlets and a solid retail base, but it specializes mainly in serving the agriculture sector and the food industry. Rabobank is the third largest bank in the Netherlands and it has a similar cooperative bank background as BGŻ. It has been present in Poland since 1996, servicing mainly companies from the food sector and amassing zł.3.5 billion in assets.
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
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »