Banking
Cooperative banks give up their BGŻ stake
Rural cooperative banks have agreed to sell most of their 30 percent stake in Bank Gospodarki Żywnościowej, a mid-sized lender specializing in agricultural and food processing industry, sources close to the situation told PARKIET yesterday. Polish banks will receive an estimated 381 million zloty ($118 million) for their stake in BGŻ.
The most likely buyer, the Netherlands-based Rabobank, already owns 13.76 percent of BGŻ. Once the deal is finalized, Rabobank together with the European Bank for...