MILAN Jan 23 Italy's Intesa Sanpaolo
said on Friday it agreed to sell Ukrainian subsidiary
Pravex-Bank to CentraGas Holding, a unit of Ukraine-based Group
DF, for 74 million euros.
Italy's biggest retail bank said it expects to complete the
sale within three to six months. It said its consolidated income
statement would record a negative contribution of about 100
million euros ($135.64 million) as a result.
Intesa also said it had signed a binding memorandum of
understanding concerning the sale of a 19.9 percent stake in
Chinese insurance company Union Life for 146 million euros.
Intesa confirmed it expected to record a net capital gain of
around 150 million euros in the first half of 2014 from the sale
of its stake in payment services group SIA.
($1 = 0.7372 euros)
(Reporting by Isla Binnie)