The Warsaw Voice » Business » News - December 9, 2013
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European Commission okays PKO BP bank’s sale of eService stake
   
Bank PKO BP secured the European Commission's approval of the sale of a 66% stake in its payment card settlement operator eService to a unit of EVO Payments International, the commission said in a statement on Friday.

The approval of the commission was one of the conditions precedent for the sale. Poland's financial market watchdog KNF will have to be notified of the transaction in 2014.

PKO BP and Evo inked the deal in early November, with PKO BP to sell the 66% stake for USD 113 million, a sum to be adjusted for cash and earn-out bonus. The bank eyes PLN 377 million gross profit on the transaction.