Poland BGZ attracts bid from PZU-backed Alior

By Rizza Sta. Ana

Oct 05, 2013 07:58 AM EDT

According to market sources who told Reuters, Bank Gospodarki Żywnościowej (BGZ) SA had attracted interest from Polish lender Alior, who is backed by PZU Group. The sources also added that the potential buyout of BGZ from its parent company Rabobank could fetch around USD1.2 billion.

One person familiar with the discussions said, "In addition to this trio, Alior and PZU are also involved." Sources had told Reuters that the two companies that would make up the trio of potential bidders for BGZ were France's BNP Paribas (BNPP.PA) and Spain's Banco Santander as its potential buyers.

In June, Rabobank had said that it was pondering its options for the regional bank, of which it has a 98% ownership stake. Rabobank may not have indicated that it would be putting up its holding in BGZ for sale, but some banks had reportedly lined up to place potential bids for BGZ.

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