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Divestment

Financial Services

    Pekao Tel Aviv
    Sale of Bank Pekao Tel Aviv to Bank Hapoalim (Israel);
    (2003, USD 7m deal value)

Real Estate

    Pekao Development
    Sale of real estate developer Pekao Development to Pirelli SpA;
    (2004, EUR 20m deal value)

Steel Distribution

    Stalexport Trade S.A.
    Sale of steel products distributor Stalexport Trade S.A. to Z?omrex S.A., a leading Polish scrap metal trader; acting as financial advisor to sell-side shareholder
    (2007, PLN 139m deal value)

Other

    Elektrim
    Sale of portfolio of 37 non-core subsidiaries to Warsaw Equity Holdings; fairness opinion by Cap Gemini Ernst & Young
    (2001, USD 10m deal value)