Three funds from the USA interested in purchasing VeloBank

At least three large American investment funds are interested in acquiring VeloBank, according to information from Business Insider Polska. According to the portal, a banking group already operating in Poland may also join the fight.

“On Monday, we revealed that the richest Pole, Michał Sołowow, is interested in taking over VeloBank. The billionaire may be the most serious player in this race, but he will have competition. […] Business Insider Polska’s findings show that private equity funds may be seriously interested in the only bank officially put up for sale in the country,” we read in the article.

“Cerberus, JC Flowers and Warburg Pincus are entities that may take part in this process,” said the portal’s informant, quoted in the material.

These American funds operate all over the world. They have experience in investing in the financial sector, and their portfolio includes banks, Business Insider wrote.

However, none of the funds answered him whether it was interested in acquiring VeloBank.

“From the point of view of both the BFG and the Polish Financial Supervision Authority, the optimal investor for VeloBank would be a large banking group. One that is already in Poland, or a player from abroad who would like to enter this market. According to our sources, documents regarding VeloBank were downloaded by at least one of the banks already present in Poland,” we also read.

Yesterday, Business Insider reported that MS Galleon, a financial vehicle controlled by Michał Sołowow, is interested in purchasing VeloBank.

VeloBank is a bank that was established as a result of the resolution procedure of Getin Noble Bank. It is controlled by the Bank Guarantee Fund.


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