PKO BP extends deadline in its bid for Nordea Bank Polska
September 18, 2013
Poland's top lender PKO BP extended the deadline for subscriptions in the tender offer for shares of Nordea Bank Polska to October 25 as the bank has not yet received regulatory consent, PKO BP said in a market filing.
By September 16 PKO BP has not received the consent for taking over Nordea Bank Polska from antimonopoly office UOKiK and from financial market regulator KNF, PKO BP said.
PKO BP expects the above conditions to be fulfilled by October 16, plans to purchase shares on October 30 and clear the transaction on November 5, the filing reads.
On June 12 PKO BP signed a deal to acquire Polish assets of Nordea, comprising Nordea Bank Polska, insurer Nordea TUnZ and Nordea Finance Polska for PLN 2.83 billion from Nordea AB.
PKO BP will buy 99.21% in Nordea Bank Polska for PLN 2.642 billion, 100% in life insurer Nordea TUnZ for PLN 180 billion and 100% in leasing and factoring firm Nordea Finance Polska for PLN 8 billion.