Poland's Pekao, PZU sign memorandum for potential merger
02/06/2025 08:18
June 2 (Reuters) - Polish bank Pekao PEO.WA said on Monday it had signed a memorandum with PZU PZU.WA to prepare a potential deal under which it would take over PZU after spinning off the insurer's operational activity. The companies aim to complete the possible deal by the end of June 2026, which they said could free up about 15 billion to 20 billion zlotys ($4 billion to $5.3 billion) of the group's capital surpluses. ($1 = 3.7460 zlotys) (Reporting by Anna Pruchnicka in Gdansk, editing by Milla Nissi-Prussak) ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))