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Santander completes €4bn takeover of BZ WBK


2011-03-30



Santander, the biggest financial services group in the eurozone, has completed the acquisition of BZ WBK, Poland’s number three bank by branch network and profits, following a successful public bid for the company that left it with nearly 100% of its shares. According to the Warsaw Stock Exchange, the transaction was worth PLN 15.9bn (approx. €4bn).

Earlier this year Santander received anti-trust clearance for a deal to buy just over 70% of shares in BZ WBK from Allied Irish Banks (AIB) for €2.9bn. The public bid, which closed on 25 March, was backed by most minority shareholders and gave Santander 96% of shares in BZ WBK.



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