After completing a compulsory redemption of minority shares, Alior and General Electric have taken over control over BPH Bank. The transaction boosted Allior’s holding in BPH to 61.3 percent while GE now holds 38.7 percent. Shares sold out for PLN 31.19 per share, which is the same price Alior paid for more than 4.5m shares in BPH in August. Together with GE, Alior holds nearly 60.7 percent of BPH capital, representing 99.42 percent of shares. The next move for the shareholders will be withdrawing BPH from the Warsaw Stock Exchange. The transaction is part of Alior’s strategy to establish Poland’s fourth biggest lender through a combination of acquisitions and organic growth.
