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
Vladimir Putin appeared on live television and radio for his annual question-and answer session with the public.
more »
EUFISERV Payments announced today that the separation of the EUFISERV ATM Scheme from EUFISERV's former processing business is now complete, and is in line with the SEPA requirements of the European Central Bank and the European Commission.
more »
600,000 Mexicans work in the auto and auto parts industries, and U.S. automakers run around a dozen plants.
more »
The President of the European Commission Jose Barroso says some British politicians are considering signing up to the euro
more »
It's official. The U.S. economy is in a recession.
more »
The crisis that started in the US over a year ago has sent shock waves around the globe.
more »
Offering a coordinated response to the EU’s deepening economic crisis, the Commission is proposing €200bn in measures to boost purchasing power and generate growth and jobs.
more »
The two men charged with keeping Britain's economy afloat moved on Monday to ward off a deepening recession.
more »
European citizens are getting older and greyer. By 2050 it is estimated that the average age in the European Union will be 49, up from 39 now.
more »
Addressing U.S citizens, Barack Obama spoke of plans to revive the economy.
more »