Spanish lender, Banco Santander, has secured approval from the Polish Financial Supervisory Commission to acquire a majority stake in Bank Zachodni, Bloomberg reports. The Santander-based bank will acquire the stake from Allied Irish Bank (AIB).
The approval from the regulator will allow Santander to acquire 100% of Poland’s Zachodni, after it made a $5.7 billion takeover offer. Santander is seeking to complete the takeover by April 1, adds AFP.
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