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PKO BP pulls out from acquisition of AIG's Polish units

Posted on: Wed, 13 May 2009 04:46:00 EDT

Symbols: AG

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May 13, 2009 (M2 EQUITYBITES via COMTEX) --
AG | Quote | Chart | News | PowerRating -- Polish state-run bank PKO Bank Polski (WAR:PKO) dropped its plans to
acquire 99.92% in AIG Bank Polska and 100% of AIG Credit, units of
struggling US insurer AIG (NYSE:AG), PAP said on Wednesday (13 May
2009).

The Polish arms of AIG are among its non-core assets, which the insurer
put up for sale as part of an effort to avoid bankruptcy.

PKO did not disclose the reasons for its decision to pull out from the
deal.

Sector: Banking/Insurance

Type: Corporate acquisition

Target: AIG Bank Polska/AIG Credit

Vendor: American International Group Inc

Buyer: PKO Bank Polski SA

Status: Withdrawn

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