Zachodni becomes the object of interest by BNP Paribas and Societe Generale

BNP Paribas and Societe Generale want to buy controlling stake in Bank Zachodni

In brief: Another major European bank takeover could happen in the coming days. BNP Paribas and Societe Generale are willing to buy the Polish bank.

French banks BNP Paribas and Societe Generale are interested in applying for the acquisition of 70 per cent stake in Polish bank Zachodni, which exposes for sale by Allied Irish Bank. It is reported by the French edition of La Tribune.

BNP Paribas and Societe Generale are considering this possibility very seriously, the newspaper said citing several sources close to the matter. Preliminary proposals are expected to be submitted to AIB in the middle of June. The final decision on the deal will be made in September. The same sources, the BNP Paribas has a good chance to win these tenders. Market value Zachodni approximately 3.7 billion euros.

Ukrainian Globalist
2010-05-31 15:38, Economics.

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