MILAN, July 31 UniCredit has reached a
deal to sell its 81.4 percent stake in DAB Bank AG to
BNP Paribas, the Italian lender said in a statement on
The agreed price of 4.78 euros per share values the stake at
around 354 million euros ($473.97 million), the bank said.
UniCredit said it expects to book a net gain of around 180
million euros from the transaction.
The deal's closing is still subject to the approval of the
relevant authorities and UniCredit Bank AG's supervisory board.
It will boost UniCredit Group's common equity tier 1 by 8
($1 = 0.7469 Euros)
(Reporting by Agnieszka Flak, editing by Isla Binnie)