DZP advises on the creation of the third largest bank in Poland

DZP is advising Kredyt Bank S.A. on a merger with BZ WBK S.A. The merger will be carried out through the transfer of all the assets of Kredyt Bank (a KBC Bank subsidiary), as the target company, to BZ WBK (a Banco Santander subsidiary), as the acquiring company. BZ WBK's share capital will then be increased through the issue of new shares which BZ WBK will allocate to all current Kredyt Bank shareholders.

The outcome of the transaction will be the creation of the third largest – in terms of business volume – universal bank in Poland (according to FSA data). The transaction is valued at PLN 28.8 billion.

The project is being handled by experts in the Capital Markets and Financial Institutions Practice: Magdalena Skowrońska, Zofia Bielecka and Błażej Podstawski, and the Corporate and M&A Practice.