€7 billion deal marks Europe’s largest cross-border banking transaction in 20 years
Erste Group Bank AG, the Austrian banking group that owns Banca Comercială Română (BCR), has successfully completed the acquisition of a 49% stake in Santander Bank Polska and a 50% stake in Santander Towarzystwo Funduszy Inwestycyjnych from Banco Santander, the group announced in a statement cited by Agerpres.
The transaction, valued at around €7 billion in cash, makes Erste Group the lead shareholder with de facto control of Poland’s third-largest bank by assets. According to the Austrian lender, this is the largest cross-border banking deal in Europe in the past two decades.
Read full article here: turnovernews.com
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Photo: The Diplomat
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