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UniCredit SpA together with Intesa Sanpaolo, Banca Monte dei Paschi di Siena and BNL reach agreement for sale of 59.3 pct of the share capital of SIA


Monday, 2 Dec 2013 01:34am EST 

UniCredit SpA:Says, together with Intesa Sanpaolo, Banca Monte dei Paschi di Siena SpA and BNL, it has signed with Fondo Strategico Italiano, F2i SGR and Orizzonte SGR the agreements for the sale of 59.3 pct of SIA's share capital.Says of the 59.3 pct stake, 28.9 pct is held by Intesa Sanpaolo Group, 20.1 pct by UniCredit, 5.8 pct by Banca Monte dei Paschi di Siena and 4.5 pct by BNL.Says the consideration has been determined on the basis of an equity value for the 100 pct of the share capital of SIA equal to 765 million euros.Says, as a result of the transaction, Fondo Strategico Italiano will have a 42.3 pct stake, F2i SGR 10.3 pct and Orizzonte SGR 6.7 pct.Says Intesa Sanpaolo and UniCredit will retain a 4 pct stake each, while Banca Monte dei Paschi di Siena and BNL will sell their shares in full and the other existing shareholders will retain the remainder 32.7 pct of SIA's share capital.Says the completion of the disposal is expected by the first half of 2014.