RBI: Takeover of Polbank Approved

Businessn.a. ♦ Published: April 18, 2012; 15:18 ♦ (Vindobona)

The Polish Competition Authority allowed Austrian RBI (Raiffeisen Bank International) to purchase Polbank. Conversely, RBI has to list as Warsaw Stock Exchange.

RBI: Takeover of Polbank Approved / Picture: © Vindobona.org

The takeover of Polbank is approved. RBI takes over 70% of the Polish private bank, which was held by the Greek EFG Eurobank before. EFG Eurobank has to downsize and build up reserves.

Initially, RBI wanted to finalize the sale in 2011. Only the approval by Polands´s competition authority was missing. RBI now agreed with Poland to start a secondary listing at Warsaw Stock…