Polish insurance company PZU is preparing the acquisition of Bank Pekao, which is part of the Italian UniCredit Bank. About it writes The Financial Times.
“We want to develop a large Bank. Pekao would be a good asset for us,” the sources noted in ing Bank śląski.
According to Polish media, Executive Director J. Michal Krupinski already this week, can discuss with UniCredit opportunity.
The FT notes that the deal to sell Pekao is part of the plan of the Polish authorities to return control over the banks in the country. The insurance company already owns PZU Alior Bank and banking assets to GE Capital.
While UniCredit Bank in July, has already sold 10% of shares in Bank Pekao for 749 million euros. Then it was reported that the sale of shares in Pekao will allow UniCredit to boost the capital adequacy ratio by approximately 12 basis points.
In July 2013 Pekao sold 100% of shares owned by him in Ukraine UniCredit Bank UniCredit for $166,35 million