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Reports: 6 investment funds show initial interest in Idea, Getin Noble banks

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Reports: 6 investment funds show initial interest in Idea, Getin Noble banks

Six investment funds, including Centerbridge Partners LP, Apax Partners LLP and AnaCap Financial Partners LLP, are considering making investments into Getin Noble Bank SA and Idea Bank SA, Polish media outlets reported.

The funds reportedly expressed initial interest in the two lenders, controlled by Polish businessman Leszek Czarnecki, and could start due diligence proceedings right after the New Year, news website said Dec. 18 after Puls Biznesu.

Getin and Idea announced earlier in December they decided to look for a financial investor that would recapitalize them or a joint bank that could be formed as the result of a potential merger of the two lenders. Czarnecki has been considering the merger since July, hoping that the process would result in significant cost and sales synergies.

Centerbridge already approached Czarnecki in the summer of 2017 with a proposal to buy Idea Bank, but the businessman was not interested in selling the lender at the time. The banker also received an acquisition proposal for Getin Noble Bank earlier in 2018, but the talks fell through following the November resignation of FSA head Marek Chrzanowski following corruption allegations made against him by Czarnecki, the news reports noted.