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Bank Pekao SABank Pekao lender plans to split Pekao Bank Hipoteczny
Listed lender Bank Pekao has announced the planned division of Pekao Bank Hipoteczny (PBH) by transferring part of the assets of the company being split to the bank, Bank Pekao said in a market filing.
The division of Pekao Bank Hipoteczny will be carried out by transferring part of PBH's assets (assets and liabilities) and PBH's rights and obligations in the form of an organised part of PBH's enterprise to Bank Pekao, and leaving the remaining part of PBH's assets (assets and liabilities) and PBH's rights and obligations (i.e. excluding the spin-off Business), in the form of an organised part of PBH's enterprise to PBH.
"As the bank is the sole shareholder of the demerged company, no increase in the bank's share capital is envisaged in connection with the acquisition by the bank of part of the assets of the demerged company. Therefore, the bank will not issue shares in exchange for the acquired assets of the divided company," it wrote.
alk/ han/