BNP Paribas Puts Up $1.37B For Rabobank's Polish Unit

Law360, New York (December 5, 2013, 12:25 PM EST) -- BNP Paribas SA agreed to buy Poland's Bank Gospodarki Zywnosciowej SA from rival Rabobank for 4.2 billion zloty ($1.37 billion), the companies said Thursday.

BNP had wanted to buy BGZ to increase its presence in the Polish banking sector, where it sees opportunities, according to the company. The deal was the product of negotiations between the companies and not an open sale, and the deal's close will depend on regulatory approval, the banks said.

"The acquisition of Bank BGZ constitutes a major step towards attaining a...
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