Bank Pekao to Acquire Pioneer Pekao Investment Management


June 9, 2017

On June 2, 2017, Bank Pekao, the owner of 49% of Pioneer Pekao Investment Management, announced that it will acquire the remaining 51% from Pioneer Global Asset Management for €140 million.

The transaction includes 35% of the shares of Pekao Pioneer PTE pension fund. In addition, Bank Pekao’s consolidated profit-and-loss statement will realize a one-time gain of 400 million zlotys ($107 million) as a result of the transaction, according to Bank Pekao. The transaction is subject to regulatory approval.

Bank Pekao is Poland’s second largest bank and is state run.

To read the news story: please click here.