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Poland: Alior Bank announces buyout of rival

By  |  October 21, 2014

Poland’s Alior Bank announced Tuesday it has reached a deal to acquire 98 percent of smaller competitor Meritum Bank.

According to reports, Alior will purchase the company from its current owners, two private equity funds, for $107 million.

Alior currently stands as Poland’s No. 14 bank in terms of assets, according to reports.

The deal remains subject to both regulatory and shareholder approval.

Full content: Reuters

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