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
One of the biggest Finnish introducing broker companies Finnprinters, connecting customers and printing houses, has started joint business projects with Lithuania’s 2 printing houses.
more »
Statistics Lithuania informs that, based on the Labour Force Survey (LFS) data, the unemployment rate in I quarter 2009 reached 11.9 per cent, i.e. was close to the level of the year 2004. Over a quarter, the unemployment rate grew 1.5 times, over a year – 2.4 times.
more »
Lithuania’s Acting Minister of Foreign Affairs Vygaudas Ušackas discussed ways of accelerating the implementation of Rail Baltica in the current economic environment and attracting foreign investments for the implementation of this project.
more »
Proposals for transparency and monitoring to keep gas flowing to the EU.
more »
On a day in which G8 leaders in Italy said the world economy still faces "significant risks," a top White House official said the Obama administration is not discussing a second stimulus plan.
more »
EU proposes microfinance facility to encourage the unemployed to start their own businesses.
more »
For those of you who like your fruit and vegetables to look as crooked, knobbly and curvy as possible 1 July was a good day.
more »
Walt Disney will invest almost half a billion U.S. dollars into its Hong Kong Disneyland, to bolster the park's prospects against a planned rival in Shanghai.
more »
On 26 June 2009 Securities Commission (SC) approved the merge of investment funds controlled by UAB SNORAS Asset Management with SNORAS Global Equity Funds of Funds (SGEFF) by joining JT Baltic Equity Fund I.
more »
Taking into account changes on international and domestic money markets AB DnB NORD Bankas, a member of international financial group, has changed time deposit rates for individual customers.
more »