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Ukrainian regulator OKs purchase of Pekao shares by PZU

PZU SA obtained unconditional consent from the Antimonopoly Committee of Ukraine to acquire a stake in Poland's Bank Pekao SA.

The Polish state-controlled insurer is in the process of acquiring a 32.8% stake in UniCredit SpA's Polish unit with Polish development fund PFR. The transaction, valued at 10.6 billion Polish zlotys, was announced in December 2016, and the Ukrainian approval was one of the conditions for the transaction to be completed.

As of March 24, US$1 was equivalent to 3.94 Polish zlotys.