European Bank for Reconstruction and Development will buy 332 million-zloty worth of new shares in Bank Zachodni WBK SA (BZW), the Wroclaw-based lender said in a regulatory statement today.

The private offering of shares is a part of the planned merger between BZ WBK, a unit of Banco Santander SA (SAN), and Kredyt Bank SA (KRB), according to the filing. The transaction is pending regulatory and shareholders’ approvals, the bank said.

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