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Intesa Sanpaolo SpA Announces Completion of Offering of Ordinary Shares in Assicurazioni Generali SpA


Monday, 11 Nov 2013 03:59pm EST 

Intesa Sanpaolo SpA announced that it has sold approximately 21 million existing ordinary shares in Assicurazioni Generali SpA, corresponding to approximately 1.3% of Assicurazioni Generali's share capital, at a price of EUR 16.60 per ordinary share in an accelerated bookbuilt offering. Gross sales proceeds of the offering amount to EUR 347.8 million, representing a positive contribution to consolidated net income for Intesa Sanpaolo of approximately EUR 63 million. Following completion of this transaction, Intesa Sanpaolo in the fourth quarter 2013 has sold its entire holding in Assicurazioni Generali as at June 30, 2013, recording for the quarter a positive contribution to consolidated net income of approximately EUR 82 million. Banca IMI S.p.A. and UBS Limited acted as Joint Bookrunners in connection with the offering.