March 11, 2013 / 8:44 AM / 7 years ago

UPDATE 1-KBC, Santander plan to sell BZ WBK shares

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WARSAW, March 11 (Reuters) - The eurozone’s biggest bank Santander and Belgium’s KBC have hired advisers to help them unload shares in Polish lender Bank Zachodni WBK in 2013, BZ WBK said on Monday.

KBC has already said it would seek to sell its 16-percent stake in BZ WBK, which it received as part of the deal to sell its Polish unit Kredyt Bank to Santander, which merged it with BZ WBK.

Santander, which holds a 75-percent stake in BZ WBK, has also committed itself to cutting its stake to increase the lender’s freefloat.

BZ WBK has a market capitalisation of $8.1 billion.

The banking consortium hired by Santander and KBC is made up of Deutsche Bank, Citigroup, Morgan Stanley, BofA Merrill Lynch, Credit Suisse, KBC Securities, Santander Investment, Goldman Sachs and UBS.

BZ WBK shares lost 1.2 percent in early trade. (Reporting by Agnieszka Barteczko; Editing by Helen Massy-Beresford)

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