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BNP and SocGen eyeing AIB's Zachodni stake: report
May 31, 2010 / 6:05 AM / 7 years ago

BNP and SocGen eyeing AIB's Zachodni stake: report

PARIS (Reuters) - French banks BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) are interested in bidding for the 70 percent stake in Polish bank Zachodni BZWB.WA that Allied Irish Bank (AIB.N) (ALBK.I)is selling, French daily La Tribune reports on Monday.

“BNP Paribas and Societe Generale are looking at the dossier very seriously,” the paper said, citing several sources close to the matter.

Preliminary offers are expected to be submitted in mid-June and firm offers by end-August, ahead of a decision in September, it said.

According to the same sources, BNP Paribas appeared best placed to win the bidding.

Zachodni has a market value of 3.7 billion euros.

BNP Paribas and Societe Generale could not be immediately reached for comment.

Reporting by Dominique Vidalon; Editing by Hans Peters

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