EBRD sells its stake in Poland’s Bank Zachodni WBK

By Anthony Williams
@ebrdtony

EBRD sells its stake in Poland’s Bank Zachodni WBK

Sale follows integration process into Grupo Financiero Santander
 

The EBRD has today sold its residual holding in Bank Zachodni WBK S.A. (“BZ WBK”), one of the three leading banks in Poland. The Bank sold 467,726 shares through an accelerated bookbuild offering on the Warsaw Stock Exchange. 
 
The transaction was successfully launched after market close on the Warsaw Stock Exchange on 19 May 2015 via bookrunner Citigroup Global Markets Limited and was completed at a small discount to the closing price that day.  The sale attracted strong interest and demand from a mix of international and domestic institutional investors.
 
Lucyna Stańczak-Wuczyńska, EBRD Director for Financial Institutions and EU Banks, said: “We have taken the decision to sell our remaining holding in BZ WBK owing to the successful development of the bank following its merger with  Kredyt Bank, and the significant progress with its integration into Grupo Financiero Santander. The EBRD is very pleased with BZ WBK’s excellent results thanks to the outstanding performance of management and staff over the last few years. We will continue to support the bank as and when required.”
 
The EBRD remains committed to investing in the Polish market. Since the beginning of its operations in Poland in 1991, the EBRD has invested €7 billion in more than 330 projects in the country. In addition to its wide product range for banks and corporates, in recent years the Bank has also built a growing portfolio of investments (both equity and debt) in the Polish financial sector, for which demand remains high.