Dutch Rabobank to merge its Polish units
November 4, 2013
Bank BGZ, a unit of Dutch Rabobank, will merge with another Polish unit of Rabobank, Rabobank Polska in a for-equity transaction which will increase BGZ's capital by 5 million shares, BGZ said in a market filing.
All assets and liabilities of Rabobank Polska will be transferred to BGZ, which will issue 5,002,000 shares for the current shareholder of Rabobank Polska, the Dutch banking group Rabobank.
As a result of the transaction, BGZ's equity will increase to 56,138,764 shares.
BGZ bank shares closed at PLN 70.63 on Thursday.
The merger of Rabobank's Polish units is a result of the bank's obligations vs. Poland's financial market regulator KNF, the filing reads.