The settlement will be governed by the terms of the public share repurchase proposal, which were published on February 8. Most approvals were sent by legal entities, seven percent by natural persons.
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Foreign shareholders account for a larger share of the entire buyout, almost 87 percent. In a voluntary share repurchase offer, Tanemo offered CZK 80 per Moneta share.
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The CNB’s approval allows Tanemo to settle the transfer of ownership and the payment of the contingent part of the public share repurchase proposal.
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The settlement date of the contingent portion of the repurchase was set for April 20, 2021. The unconditional portion of the public offer to repurchase shares for up to ten percent of Moneta’s shares was settled by Tanemo on March 24 this year.
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At the beginning of February, the Board of Directors of Moneta unanimously concluded that PPF’s voluntary public proposal to purchase part of Moneta’s shares from its shareholders up to 20 percent, with the possibility of increasing to 29 percent, is in line with the interests of the bank and its shareholders.
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The realization of a possible connection with Air Bank, the Czech and Slovak Home Credit and the company Benxy (Zonky) depends on an in-depth inspection and approval by the shareholders.
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Big changes in the banking segment
This is one of a number of significant changes that have recently taken place in the Czech banking market.
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Raiffeisen Bank International (RBI) recently announced the acquisition of the Czech Equa bank. This was approved by the Office on Thursday.
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Raiffeisenbank may also take over ING Bank’s domestic clients in accordance with an earlier decision of the Office. The Dutch bank has previously announced that it will terminate personal banking services in the Czech Republic by the end of 2021. From next year, it will provide services only to corporate clients.
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