Towarzystwo Ubezpieczen Europa S.A. agreed to acquire a 80% stake in Bank Millennium S.A. from Banco Comercial Português, S.A. (ENXTLS:BCP) on February 13, 2023. The transaction has been values to amount to approximately PLN 500 million. Talanx intends to finance the transaction from existing funds.

The transactions are subject to approval by the relevant supervisory authorities. The acquisition is expected to close in the first half of 2023.