WARSAW: BPH said in a statement on Wednesday that General Electric Co sold 1.47 million or 1.9 percent shares of Polish Bank BPH at 42.5 zlotys ($12.6) per share.
The transaction, valued at 62.5 million zlotys, was conducted in order to deliver on a commitment made by GE to the Polish financial regulator to increase the bank’s free float. BPH’s shares closed Tuesday trade at 44.55 zlotys. Before the transaction GE had a 89.16-percent stake at BPH. The GE has said before that it is considering strategic options in order to sell the bank.
