International private equity companies are hoping to convince the Polish state-owned insurer PZU to make a joint offer for Alior Bank. Apparently, the latest in a series of Polish banks to go up for sale, but the Polish financial authority, the KNF, is reportedly unwilling to let any of the funds take over the bank by itself. The funds have therefor turned their attention to doing a deal with PZU. “[PZU] has cash a surplus, and wants to offer debt financing. The funds, are trying to convince PZU to take the shares,” a person familiar with the case told the daily Puls Biznesu.
According to the daily Puls Biznesu, all of the offers should be submitted by the end of September. So far, ten of potential buyers said to be carrying out due dilligence on the bank, including investors from Russia, China and Turkey.
