Erste Plans Stake Increase in Polish Unit
Austrias Erste Group Bank plans to launch a cash tender offer in November to acquire an additional stake of up to 26 percent in Erste Bank Polska. The move aims to deepen the lender exposure to the Polish market while funding the purchase from internal resources.
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ERSTE GROUP BANK AG plans a tender offer to acquire an additional 26% stake in Erste Bank Polska for about 713 zloty ($185.95) per share in cash. The move deepens the Austrian lender's footprint in Poland following its acquisition of a controlling position earlier in the year. The transaction values the target lender at 82.5 billion zlotys ($21.51 billion).
