Poland consolidates banking sector

Article Abstract:

The Polish Government will implement a policy to strengthen its banking sector by increasing share capitals in Bank Handlowy and Bank Polska Kasa Opieki SA. New shares are to be issued for other large banking operations. As part of its strategy to provide public employees with pension funds, the Polish Government will then contribute 51% of the Bank Handlowy and PeKaO SA banks to future pension funds by the end of 1996.

Pension funds

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High price for oil company

Article Abstract:

Argentina completes its privatization of mortgage bank Banco Hipotecario and oil company Yacimientos Petroliferos Fiscales (YPF). A 14.99% stake, or US $2.01 billion, in YPF was sold on Jan 20, 1999, with Repsol purchasing 53m shares at $38/share, representing a premium of 30% to its previous $29.25 closing price. A 46% stake of Banco Hipotecario was sold for $496.5m, with shares selling at a base price of $7 per share.

Government domestic functions, Organizational history, PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Argentina, Management, Petroleum industry, Yacimientos Petroliferos Fiscales Bolivianos, Banco Hipotecario

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Minority stake in Polish bank sold

Article Abstract:

20% of Wielkopolski Bank Kredytowy (WBK) of Poland has been sold off by the Polish government, to Allied Irish Banks (AIB), increasing AIB's share to 36.3%. 21% of Corazdze Cement Plant has been sold to CBR Baltic of Beligum, and the government has established Polska Nafta, a state owned holding company in preparation for restructuring of the oil industry.

Privatization, Privatization (Business), Wielkopolski Bank Kredytowy

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