UniCredit plans to cut its stake in Pekao to 50.1 percent by putting 9.1 percent of its shares up for sale. According to the business server bankier.pl, the package was worth PLN 3.98bn at Tuesday’s closing on the Warsaw Stock Exchange. UniCredit says its Pekao strategy this year includes no other sell-offs. The funds raised will be used for UniCredit’s organic growth on the CEE markets.
UBS, UniCredit CAIB Polska and Citi will coordinate the sell-off. UniCredit currently holds a 59.21-percent stake in Pekao.
