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.
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