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PZU shares rise on news of bank takeover

PR dla Zagranicy
Roberto Galea 09.12.2016 12:26
Polish insurer PZU's shares rose 4.4 percent on the Warsaw Stock Exchange on Thursday, following news that it had agreed to buy a 32.8 percent stake in Pekao SA bank.
Photo: Paul Sableman/Flickr.com
Photo: Paul Sableman/Flickr.com

PZU and Polski Fundusz Rozwoju (PFR), a state-owned financial group that supports economic development, are to pay PLN 10.6 billion (USD 2.58 billion, EUR 2.39 billion) for the stake, for PLN 123 per share, PZU said.

The news on Thursday saw an increase in demand for shares in PZU, the largest insurer in the region.

Pekao SA bank is currently part of Italy’s UniCredit group.

PZU shares are part of the blue-chip WIG20 index on the Warsaw bourse. (rg/pk)

tags: PZU, WSE
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