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Alior concludes settlement agreement with Bank BPH sellers

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Alior concludes settlement agreement with Bank BPH sellers

Alior Bank SA entered into a settlement agreement with Bank BPH SA, GE Investments Poland, DRB Holdings and Selective American Financial Enterprises LLC regarding the 2016 purchase of the demerged part of Bank BPH's business from the three sellers.

The sellers will pay Alior 94.3 million Polish zlotys under the agreement, the purpose of which is to settle the acquisition of Bank BPH's core business and certain other claims, costs and payments related to the transaction. Alior also confirmed that as of receiving the agreed sum, it would not raise certain claims relating to the settlement of the deal.

The execution of the settlement has no significant impact on the bank's financial result, Alior noted.

As of Dec. 19, US$1 was equivalent to 3.55 Polish zlotys.