马顿·埃德尔报道：埃尔斯特集团银行股份公司计划将其近期收购的波兰子公司的持股比例从49%提高至最高75%，交易金额最高达189亿兹罗提（49亿美元）。
By Marton Eder Erste Group Bank AG plans to lift its ownership in its recently-acquired Polish subsidiary to as much as 75% from 49% in a bid worth up to 18.9 billion zloty ($4.9 billion).
这家维也纳贷款机构周五在声明中表示，作为一项自愿收购要约的一部分，拟每股报价约713兹罗提，收购埃尔斯特银行波兰1%至26%的股份。该交易须获得波兰监管机构批准，并且须确保该子公司至少25%的股东不出售股份，从而实际上保留足够大的自由流通量，以符合波兰的相关规定。
The Viennese lender plans to offer about 713 zloty per share as part of a voluntary purchase offer targeting between 1% and 26% of Erste Bank Polska’s shares, it said in a statement Friday. The deal requires regulatory approval in Poland and is subject to at least 25% of the unit’s shareholders not tendering, effectively leaving in place a large-enough free float to meet national rules.
该交易意在解决埃尔斯特自当初在波兰买入首批股份以来一直面临的难题。首席执行官彼得·博塞克表示，该行希望提高持股比例，但若持股比例升至50%以上，就必须提出收购该子公司所有流通股份的要约。与此同时，波兰监管机构要求银行维持证券交易所上市地位，这实际上可能导致其转售部分股份。
The deal seeks to find a solution to a dilemma Erste has faced since buying the initial stake in Poland. Chief Executive Officer Peter Bosek has said the bank would like to boost its ownership, but lifting it above 50% would require it to offer to buy all outstanding shares in the subsidiary. Polish regulators, in turn, require lenders to maintain a stock exchange listing, effectively leading to a potential re-sale of some shares.
视监管批准情况而定，这项已宣布的方案实际上将使埃尔斯特得以取得控股权，而无需触发全面收购要约。
The announced proposal - depending on regulatory approval - would de facto allow Erste to acquire a majority stake without triggering a full takeover offer.
埃尔斯特表示，拟利用内部资金为该交易提供资金，并在交割时达到管理层设定的普通股一级资本比率至少为14.25%的目标。公司预计于11月初启动为期30天的收购要约，交易计划于12月完成。
Erste said it intends to fund the deal from internal resources, meeting a management-imposed target of at least 14.25% common equity tier 1 capital at closing. It expects to start a 30-day purchase offer at the beginning of November, with a transaction scheduled to close in December.
今年早些时候，埃尔斯特斥资约70亿欧元（80亿美元）买下波兰子公司的初始股份。作为东欧最大的银行，该行的盈利能力显著提升，潜在交易价格也反映了这一点。该行大幅削减了股息支付，并取消了已宣布的股票回购，以帮助为该项收购筹资。
The potential price tag reflects Erste’s elevated profitability as the largest bank in eastern Europe, after paying about €7 billion ($8 billion) for the initial Polish stake earlier this year. The bank significantly cut back its dividend payment and canceled an announced share buyback to help fund that acquisition.
713兹罗提的收购价较Erste Bank Polska周五收盘价折让12%，而该股年内已累计上涨48%。这一价格较支付给该单位原持有者Banco Santander SA的初始价格溢价22%。
The 713 zloty purchase price represents a 12% discount to Erste Bank Polska’s closing price on Friday, which has rallied 48% this year. It offers a 22% premium to the initial price paid to the unit’s previous owner, Banco Santander SA.