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Bank BGŻ BNP Paribas completes transfer of factoring unit to French parent

Bank BGZ BNP Paribas SA signed an executive agreement finalizing the sale of its unit BGZ BNP Paribas Faktoring Sp. z o.o to parent BNP Paribas SA, the Polish lender said Dec. 18.

The transfer of the ownership of BGZ BNP Paribas Faktoring shares to BNP Paribas will become effective Dec. 31.

Bank BGZ BNP Paribas announced the sale at the end of October, with the total price of the transaction amounting to 10.4 million Polish zlotys.

As of Dec. 18, US$1 was equivalent to 3.56 Polish zlotys.