Erste Group buys 49% of Santander’s Polish unit for €6.8bn

Erste Group buys 49% of Santander’s Polish unit for €6.8bn

Erste Group acquired a 49% stake in Santander’s Polish bank for approximately €6.8bn, the Austrian lender said on May 5.The Austrian bank, ...

European markets mixed, Erste Group Bank rises 7% after acquiring stake in Santander's Polish unit

European bourses saw a mixed start to the week on Monday, with U.K. markets closed for a bank holiday.

Norbolsa Market Consensus The Spanish entity has agreed to sell 49% of its stake in Santander Bank Polska to the Erste group for approximately 6,800 M€, as part of a strategy to simplify its global footprint and focus on strategically connected markets. The operation also includes the sale of 50% of its asset management business in Poland, valued at 200M€, raising the total value of the transaction to 8,900 M€. With the funds obtained, Santande…

Just a week ago it became official that Erste Bank was considering acquiring 49% of Banco Santander Polska, of which it already has a 62% stake. Although this same Monday, May 5, Banco Santander has made official the sale of 49% of Santander Polska to Erste Bank, and 50% of the asset manager for a total amount in cash of 7 billion euros. “This operation represents a key step in our strategy of creating value for the shareholder, based both on ac…

Austria's Erste Group Bank, which owns Czech Savings Bank, among others, is expanding in the Polish market. The largest Austrian bank has agreed with the Spanish bank Santander to buy a 49 percent stake in its division Santander Bank Polska, the third largest bank in the country. The purchase price is 6.8 billion euros...

Stock prices on major European stock exchanges were mixed today. Investors are paying attention to the trade dispute initiated by the United States and are being cautious with their orders because the two-day meeting of the US Federal Reserve begins on Tuesday. Oil prices fell, while the euro rose slightly.