KNF does not oppose the acquisition of DB Securities by BZ WBK –

"The Commission unanimously declared that there was no reason to oppose the intention of Bank Zachodni WBK SA to buy directly shares of DB Securities SA whose head office in Warsaw exceeds 50% of the total number of votes at the general meeting on the premises of DB Securities SA in connection with a notification filed by Bank Zachodni WBK SA in Wrocław and its parent company – Banco Santander SA with its registered office in Santander "- informed the Financial Supervisory Authority in a press release

. as the date on which the acquisition of shares should take place.

In mid-July this year. The PFSA authorized the division of Deutsche Bank Polska by separating a portion of the assets of Deutsche Bank Polska SA and Bank Zachodni WBK SA in exchange for shares of BZ WBK SA issued to Deutsche Bank. "This means that some assets of DB Polska will be included in the organized part of the business, including retail banking, private banking and the business bank (BZ WBK)," explained the company. 39: Polish Financial Supervisory Authority

. KNF's decision was a precondition for the purchase of a separate part of Deutsche Bank Polska by BZ WBK

In May of this year, the KNF found no reason for it 39 Opposition to the direct acquisition planned by BZ WBK shares of Deutsche Bank Polska, assuring more than 10% votes on the GM of this bank. According to the May statement of the PFSA, the purchase of shares should take place before December 31, 2018.

In March this year. The Office of Competition and Consumer Protection approved the acquisition by BZ WBK of a separate part of Deutsche Bank Polska and the acquisition of control of DB Securities

In December 2017, BZ WBK signed a contract to take over some of the activities of Deutsche Bank Polska. private bank, business bank and DB Securities. The preliminary price for the acquisition of assets is PLN 1.29 billion, of which 20%. must be paid in cash and 80% According to the agreement, Bank Zachodni WBK will take over Deutsche Bank Polska's retail activities and SMEs from Deutsche Bank AG, excluding, among other things, mortgages and mortgages. mortgage loans, as well as the DB Polska corporate and investment bank. The transaction will also include the DB Securities brokerage. (PAP)

Author: Marcin Musiał