Business News • MarketWire • AIB agrees to sell its Polish interests for EUR3.1 billion |
AIB agrees to sell its Polish interests for EUR3.1 billion |
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AIB agrees to sell its Polish interests for EUR3.1 billion
DUBLIN, IRELAND--(Marketwire - September 10, 2010) - The Board of Directors of Allied Irish
Banks, p.l.c. ("AIB") (NYSE: AIB) today
announces that it has agreed to sell its interests in Poland for a
total
consideration of approximately EUR3.1 billion. This represents the sale
of its
entire shareholding in Bank Zachodni WBK S.A. ("BZWBK"), comprising
51,413,790
shares, representing approximately 70.36% of BZWBK's issued share
capital, and
its 50% shareholding in BZWBK AIB Asset Management S.A. ("BZWBK AIB
A.M.") to
Banco Santander S.A. ("Santander") (the "Proposed Disposal"). The price
that
Santander has agreed to pay AIB for its shares in BZWBK is PLN11.67
billion (or
approximately EUR2.9 billion*). Santander has also agreed to pay EUR150
million for
AIB's stake in BZWBK AIB A.M. and therefore AIB will realise total proceeds
from
the sales of these assets of EUR3,088 million.
View More : http://www.marketwire.com/mw/release.do?id=1316991&sourceType=3
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