Translated version of this PSD: Polish
The EBRD is considering an investment up to PLN 270 million (EUR 63 million equivalent) for the purchase of shares of Bank Millennium S.A., representing up to 3% of the bank’s capital and voting rights, subject to acceptable terms and conditions, including pricing.
EBRD shall acquire its stake through an Accelerated Book Building (“ABB”) process in which Banco Comercial Portugues aims to reduce its stake in Bank Millennium S.A. from 65.51 % to 50.1%.
Framework agreement between Banco Comercial Portugues, Bank Millennium S.A., and EBRD is expected to be signed as part of the transaction to address EBRD policy requirements (Environmental and Social Performance Requirements and Fraud and Corruption) and nomination of an independent Supervisory Board nominee.
The operation will contribute to a transition of the Bank Millennium S.A. ownership into a broader base of institutional investors through an Accelerated Book Building process while endorsing the bank’s future prospects under its growth strategy.
In a challenging geopolitical environment, the EBRD’s participation has the potential to stabilise the bank’s shareholder base, support capital market development through the ABB process and improve the bank’s corporate governance structure.
Bank Millennium S.A. is the sixth-largest commercial bank in Poland by total assets with a 5.2% market share. It is listed on the Warsaw Stock Exchange and majority owned by Banco Comercial Portugues (65.51%), the second largest bank in Portugal. Bank Millennium mainly focuses on small corporate clients and mass market and affluent retail customers.
Up to PLN 270 million (EUR 63 million equivalent) for the purchase of shares in Millennium Bank S.A.
Up to PLN 1,356 million (EUR 317 million equivalent) .
Environmental and social categorisation, impact, and mitigation
Categorised FI. Bank Millennium is in compliance with PRs 2, 4 & 9 under the existing transactions with the EBRD. Bank Millennium will be required to implement EBRD's E&S Procedures for Corporate Loans across its entire portfolio and to submit annual environmental and social reports to the EBRD.
Karina Saroukhanian, Senior Banker, Financial Institutions Group, EBRD – email@example.com
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