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Bank Pekao SAPoland's FinMin asks to suspend work on draft bill enabling merger of PZU insurer with Pekao lender
Poland's Finance and Economy Minister has requested that work on a draft bill enabling the merger of part of listed insurance group PZU with listed lender Pekao be suspended, according to a letter from the Ministry of Finance to the Council of Ministers Standing Committee's secretary.
"With reference to the letter of September 19, 2025, requesting that the draft act amending the banking law, the insurance and reinsurance activity act and certain other acts (UD268) for consideration by the Standing Committee of the Council of Ministers, I kindly request that consideration of the above-mentioned draft act be suspended," Poland's finance ministry wrote in the letter.
The ministry did not provide reasons for its request to suspend work.
At the turn of July and August, the Ministry of Finance prepared a draft bill aimed at enabling the planned merger of part of PZU SA with Pekao SA.
The draft stipulates, among other things, that if the acquirer is a domestic bank, the merger may only be carried out by transferring all the assets of the acquired company to the acquiring bank in exchange for shares or stocks that the acquiring bank issues to the members or shareholders of the acquired company.
At the beginning of June this year, PZU and Pekao signed a memorandum of cooperation concerning the reorganisation of the group, resulting in the division of PZU by separating the holding company and the subsidiary conducting operational activities. Subsequently, the PZU holding company will be merged with Bank Pekao as the acquiring entity.
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