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Shareholders Approve BZ WBK's Takeover of Kredyt Bank

By Patryk Wasilewski WARSAW--Shareholders approved Bank Zachodni WBK SA's (BZW.WA) takeover of smaller rival Kredyt Bank SA (KRB.WA) that will create Poland's third-largest bank by assets, to be controlled by Spain's Banco Santander SA (SAN.MC), BZ WBK and Kredyt Bank said Monday. Santander in February agreed with Belgian KBC Group NV (KBC.BT) to buy Kredyt Bank in an all-share deal valuing both banks at 21.5 billion zlotys ($6.4 billion) in a move to strengthen its position in one of Europe's fastest-growing economies. Santander will control 76.5% of the joint bank, and KBC will own 16.4%, which it plans on selling. KBC was hit hard by the 2008 financial crisis, and had to be bailed out with a 7 billion euro ($8.62 billion) cash infusion from Belgium's government and the regional Flemish government. As such, the European Union requires that the bank restructure and sell noncore assets. The deal, which needs to be approved by local financial regulator KNF, is expected to close later this year. One of the conditions put forward by the regulator is a dual listing of Santander shares in Poland. Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Banco Santander Chile (SAN)
DateTimeHeadline
07/29/201617:31:52Report of Foreign Issuer (6-k)
07/29/201613:57:38Report of Foreign Issuer (6-k)
07/27/201608:24:00Santander Profit Dented by Restructuring Costs -- 4th Update
07/27/201608:01:00UniCredit, Santander Terminate Asset Management Units Merger...
07/27/201607:50:00Banco Santander Brasil 2Q Net Profit Increases 7.8%
07/27/201607:20:00Santander Profit Dented by Restructuring Costs -- 3rd Update
07/27/201605:23:00UniCredit, Santander Terminate Asset Management Units Merger
07/27/201603:37:00Santander Profit Dented by Restructuring Costs -- 2nd Update
07/27/201602:40:00Santander Profit Dented by Restructuring Costs -- Update
07/27/201602:20:00Santander Profit Dented by Restructuring Costs
07/27/201601:42:00Santander Profit Dented by Restructuring Costs
07/26/201615:56:02Report of Foreign Issuer (6-k)
07/26/201612:54:45Report of Foreign Issuer (6-k)
07/19/201612:40:00Santander Holdings USA Declares Quarterly Dividend On Preferred...
07/14/201621:30:00CFPB Tightens Scrutiny of Bank Overdraft Fees, Fines Santander
07/14/201617:56:00CFPB Fines Santander $10 Million as Regulator Tightens Scrutiny...
07/14/201613:30:00Bob Diamond and Consortium Exploring Takeover of Two Italian...
07/13/201605:50:00Spanish Banks Don't Need to Repay Borrowers for Excess Interest...
07/12/201613:40:00Santander Consumer USA Chairwoman Resigns for Broader Role at...
07/12/201612:36:00Correction to Santander Consumer USA Article

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