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
The President of the Spanish Government, José Luis Rodríguez Zapatero, will meet this Monday with the German Chancellor, Angela Merkel, to analyse the future EU economic and employment strategy EU2020 before the Twenty-seven approve its basic lines at the Spring European Council.
more »
The planned overhaul of the EU common fisheries policy should take better account of the huge differences across European fleets and fisheries, give greater responsibility to fishing regions, address the problem of fleet overcapacity and improve the traditional quota system, according to a non-binding report adopted by Parliament on Thursday.
more »
The EMU framework and economic governance within the eurozone need to be revamped.
more »
Young people should be a priority in EU action next year, it emerged on Tuesday, as the Budgets Committee started work on the EU's 2011 budget.
more »
European Investment Bank (EIB) support for EU regional policy is crucial for tackling the economic crisis, EIB President Philippe Maystadt told the Regional Development Committee on Monday.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania could get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Tuesday.
more »
Today, 22 February, the EU Council of Agriculture and Fishing in Brussels, under the chairmanship of the Spanish Minister, Elena Espinosa, will analyse the impact of the economic crisis on the Greek agricultural sector, which has experienced a drop in prices and income, with small farms that pose an obstacle for the producer for negotiating with large distribution chains.
more »
Municipal policies to tackle the crisis and their application at EU level will be discussed during the three days of the summit entitled, “Networked Local Governments for a New Europe”, which will bring together representatives from 260 cities in Barcelona.
more »
The EBRD is promoting energy efficiency and renewable energy projects in Moldova, helping the economy to reduce its energy intensity with a new €20 million credit line for on-lending to local private companies.
more »
The EBRD is lending $1.2 million to Salkyn, one of the largest ice cream producers in Turkmenistan, to help the company expand its distribution network and build up its brand.
more »