Bloomberg News

Raiffeisen Sees Polbank Closing This Year, ‘Signals Positive’

September 15, 2011

Sept. 15 (Bloomberg) -- Raiffeisen Bank International AG expects to close the purchase of a 70 percent stake in EFG Eurobank Ergasias SA’s Polbank unit this year, earlier than anticipated originally, according to slides prepared for a roadshow and released on its website today.

Raiffeisen, eastern Europe’s third-biggest lender, had previously expected the acquisition to close by the first quarter of next year. The expected closing was brought forward because “signals” from the Polish authorities who need to approve the deal were “positive,” spokesman Michael Palzer said on the telephone from Vienna.

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net


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