* Offered 226.89 zlotys/share
* Transfer of shares on Friday
(Adds Santander comment, details)
WARSAW, Mar 29 (Reuters) - Spain's Santander has bought 96 percent of Bank Zachodni WBK for 15.9 billion zlotys ($5.6 billion), completing a public tender to take over Poland's fifth biggest bank, it said on Tuesday.
"Since the 70 percent acceptance threshold, which was a condition of the tender offer, has been exceeded and all the remaining conditions, including the obtaining of the appropriate regulatory authorisations, have been met, the tender offer will be settled," Santander said.
The transfer of the shares will be made on Friday, it added.
The Warsaw bourse said in a separate statement that Santander has bought 69.9 million shares in BZ WBK, which has 73.1 million shares in issue.
The euro zone's top lender launched a public tender for all BZ WBK shares last month at 226.89 zlotys each after agreeing to buy a controlling stake from Allied Irish Banks.
Santander beat several European rivals to grab a slice of Poland's growth as part of a wider shopping spree thanks to its relatively strong position compared to many humbled European rivals.
In recent months, Poland has seen a pick-up in banking deals in recent months, with more expected, as some troubled foreign owners seek to cash out and stronger lenders look to tap the European Union's sole economy to escape recession after the global financial crisis.
Analysts have said that if Santander surpasses a 90 percent stake, it would mean that BZ WBK would likely be excluded from the main indexes, making it less attractive to investors.
Poland's financial regulator has said it wants its largest banks to remain listed on the Warsaw bourse.
Santander shares closed 1.3 percent lower ahead of the announcement, while BZ WBK slipped 0.5 percent to 225.80 zlotys. ($1=2.836 Zloty) (Reporting by Chris Borowski; Editing by Greg Mahlich and Jon Loades-Carter)