Italy's Banco Popolare sells 2 pct Azimut stake

MILAN, Sept 5 Thu Sep 5, 2013 1:20am EDT

MILAN, Sept 5 (Reuters) - Italian lender Banco Popolare said on Thursday it had sold its 2.1 percent stake in domestic asset manager Azimut through an accelerated bookbuilding procedure reaping a net capital gain of 29.2 million euros ($38.54 million).

"The positive commercial relationship existing between Banco Popolare and Azimut is set to remain unchanged," the bank said in a note. ($1 = 0.7577 euros) (Reporting by Valentina Za; Editing by Greg Mahlich)