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Unicredit says completes sale of Kazakh unit
May 2, 2013 / 7:48 AM / in 4 years

Unicredit says completes sale of Kazakh unit

MILAN, May 2 (Reuters) - UniCredit, Italy’s biggest bank by assets, said on Thursday it had completed the sale of Kazakh unit ATF bank to a firm owned by Kazakh businessman Galimzhan Yesenov.

The sale had been announced on March 15 and UniCredit CEO Federico Ghizzoni said then the price would be close to ATF’s book value of $550 million. UniCredit had bought ATF for $2.1 billion in 2007 at the height of the credit boom. (Reporting By Silvia Aloisi, editing by Antonella Ciancio)

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