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Intesa Sanpaolo SpA signs agreement for the sale of 100 percent of Pravex Bank and 19.9 percent of Union Life

Thursday, 23 Jan 2014 05:28am EST 

Intesa Sanpaolo SpA:Says it signed an agreement concerning the sale of 100 percent of the capital of its Ukraine subsidiary Pravex-Bank to CentraGas Holding Gmbh for a consideration of 74 million euro.Says finalisation of the transaction is subject to regulatory approval being obtained and is expected to take place within three to six months.Says it has also signed a binding memorandum of understanding concerning the sale of the stake held by subsidiary Intesa Sanpaolo Vita in Chinese insurance company Union Life (representing 19.9 percent of the latter's capital) for a consideration of 146 million euro. 

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0.036 +1.55%
24 Oct 2014