Spanish bank Santander has announced it has tendered to buy all of Poland's Bank Zachodni.
In September, AIB agreed to sell its 70.4% stake in the Polish bank for €3 billion to Santander as part of efforts to recapitalise and restructure the bank.
That deal is awaiting approval from the Polish financial regulator. This is due in the coming weeks.
The remaining almost 30% stake in Bank Zachodni which Santander is looking to buy is held by investors. They have been offered an equivalent price (226.89 zlotys per share) as that agreed with AIB.
At the time of the AIB announcement it was anticipated that Santander would bid for Zachodni in its entirety.
An AIB spokesman said the announcement would have no impact on how the the sale of its stake progresses.
