Sweden's Swedbank said on Wednesday it would sell its entire stake in Poland's biggest corporate bank, Bank Handlowy , to U.S. Citibank .
Published:
1 June 2000 y., Thursday
The sale of the stake, between eight and nine percent, will produce a 450 million Swedish crown ($50.11 million) gain for Swedbank, known in Swedish as ForeningsSparbanken AB. It marks another stage in Citibank's takeover of the Polish institution. Swedbank said it would divest the stake in stages and retain a seat on the board of Handlowy until the end of 2001, and Citibank/Handlowy and Swedbank would develop a commercial cooperation, Swedbank said in a statement.
Earlier this month Citibank's parent Citigroup launched a public bid for Handlowy after winning approval from Polish authorities to hold up to 66 percent of Poland's oldest bank.
Šaltinis:
Swedbank
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European cities may still be feeling the pinch of the global recession.
more »
The EBRD Board of Directors has approved a $50 million convertible loan to Petrolinvest to finance the completion of exploration works at the company’s main oilfields.
more »
The European Commission welcomes the adoption today at the United Nations in Geneva of the first international regulation on safety of both fully electric and hybrid cars.
more »
Bloomberg has today announced that Lithuania had the outlook on its credit rating raised by Fitch Ratings after the Government implemented an austerity program to curb the budget deficit.
more »
In January 2010, compared with December 2009, the highest increase in retail trade in the EU-27 Member States was observed in Lithuania.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania will get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and job guidance after Parliament gave the green light on Tuesday.
more »
Some 80% of Europeans continue to travel for their holidays according to a new Eurobarometer survey on ‘The attitudes of Europeans towards tourism 2010’.
more »
The EU's internal market will be under scrutiny Tuesday when a series of reports will be debated by MEPs in Strasbourg.
more »
EU Employment and Social Affairs Ministers today agreed on a new facility to provide loans to people who have lost their jobs and want to start or further develop their own small business.
more »
Over €7.6 million in financial aid for training and self-employment could be available to former workers in German and Lithuanian if MEPs back the measures Tuesday.
more »