UniCredit announced today that it has concluded an agreement for the sale of 32.8 percent of its shares in Bank Pekao to Powszechny Zakład Ubezpieczeń (PZU) and the Polish Development Fund (PFR).

The deal is subject to the usual regulatory and antitrust approvals and is expected to be finalized around the middle of 2017.

To realize the sale of its entire stake in the company, UniCredit plans to execute a market deal with the other 7.3 percent of its capital in Bank Pekao. This will allow UniCredit to benefit from the potential of raising the value of the shares of Bank Pekao after completion of the acquisition by PZU and PFR.  Such a deal will be announced separately to the market.

The agreed price for the purchase of 32.8 percent of the shares of Bank Pekao by PZU and PFR is 10.6 billion zloty (i.e. around 2.4 billion euro according to the current exchange rate).

Detailed information for the deal can be find on the website of UniCredit.

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Additional media information:

Identity and Communications Department, UniCredit Bulbank

Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch