Bank BPH
Bank BPH (Bank Przemysłowo-Handlowy) is a Polish financial institution 89% owned by GE Money Bank (prior to 2008 the largest shareholder was UniCredit), employing about 10,000 people. On 31 December 2009, Bank BPH merged with GE Money Bank Polska.
In October 2014, the bank’s owner, General Electric, revealed it was considering selling the firm.[1]
On April 1, 2016, it was revealed that GE had reached a deal to sell its majority stake in Bank BPH's core bank to Alior Bank, and with this transaction GE will divest itself of the Core Bank while maintaining the Mortgage Bank, which will be separated in a demerger from the non-mortgage based assets that will subsequently be merged into Alior Bank; the transaction is expected to close in the fourth quarter of 2016 and must seek regulatory approval and antitrust clearance to proceed.[2]
References
- ^ GE considers sale of Polish unit Bank BPH. Reuters, 15 October 2014
- ^ GE to Sell the Core Bank of Bank BPH in Poland to Alior Bank. Business Wire, April 1, 2016
External links
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