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BNP Paribas and SocGen interested in Zachodni

BNP Paribas and SocGen interested in Zachodni
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French banks BNP Paribas and Societe Generale are the latest reportedly interested in bidding for a 70 percent stake in Polish bank Zachodni.

Allied Irish Bank is selling its share in Poland’s fourth largest lender to raise cash in order to meet capital requirements imposed on it by Ireland’s Financial Regulator.

French daily La Tribune reports there has also been interest from banks in Spain, Italy, Britain and Russia.

Preliminary offers are expected to be submitted in mid-June and firm offers by end-August, ahead of a decision in September.