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Competition watchdog clears Euro Bank takeover by Millennium BCP's Polish unit

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Competition watchdog clears Euro Bank takeover by Millennium BCP's Polish unit

Millennium BCP Polish unit Bank Millennium SA secured approval from the Polish Office of Competition and Consumer Protection to take over Euro Bank SA.

Bank Millennium agreed to acquire a 99.78% stake in Euro Bank from Société Générale SA in November 2018. The transaction with a reference price of 1.83 billion Polish zlotys is expected to close in the first half of 2019. The operational merger of Bank Millennium and Euro Bank is scheduled for the fourth quarter of 2019.

As of Jan. 3, US$1 was equivalent to 3.76 Polish zlotys.