NBH's offer accepted by more than 90 percent of Bank Komunalny's shareholders

Report this content

NBH's offer accepted by more than 90 percent of Bank Komunalny's shareholders More than 90 percent of the shareholders in Bank Komunalny SAw Gdynia have now accepted Nordic Baltic Holding's ("NBH") offer to buy all remaining shares of the Polish bank. NBH made the public offer th September 20 , after Bank Komunalny made a new issue of shares through which NBH increased its share holding in Bank Komunalny from 50 percent to approximately 71 percent of votes and capital. NBH's offer of 17.50 zloty per share is a premium of approximately 25 percent. With the acquisition of all remaining shares NBH's total investment in Bank Komunalny amounts to around 180 million zloty. Bank Komunalny is a regional bank in northern Poland with a presence also in Warsaw. The bank is among the most profitable and efficient banks in Poland and was recently rated as Poland's eighth bank by the renowned magazine Gazeta Bankowa (compared to number 10 last year). "The purpose of the acquisition is to build a bank of highest international standard to provide Nordic customers and an increasing number of Polish customers with bank services via traditional branches, Internet and other financial service concepts," says Thomas Neckmar, head of Regional Bank Baltic Countries and Poland, Nordic Baltic Holding. NBH's investments in Poland also include a 45 percent stake in the Polish bank BWP-UNI and a 51 percent stake in Energo-Asekuracja S.A. insurance. All included the NBH Group has approximately 1,000 employees in Poland. For further information: Thomas Neckmar, Head of Regional Bank Baltic Countries and Poland, +46 708 67 34 12 Erik Evrén, Media relations, +46 8 614 86 11 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/20/20001020BIT00680/bit0001.doc http://www.bit.se/bitonline/2000/10/20/20001020BIT00680/bit0002.pdf

Documents & Links