June 11, 2020 / 2:55 PM / a month ago

BRIEF-UBI Banca To Obtain 54 Mln Euro Gross Capital Gain From Branch Reorganization in Milan

June 11 (Reuters) - Unione di Banche Italiane SpA:

* AGREEMENTS TO IMPLEMENT REORGANISATION PROJECT IN FINALISED

* PURCHASED FROM INTERNATIONAL INSTITUTIONAL INVESTOR 100% OF UNITS OF FONDO IMMOBILIARE PORTA NUOVA GIOIA

* SIGNED AGREEMENTS WITH PRIMARY INSTITUTIONAL INVESTORS TO DISPOSE OF SEVEN PROPERTIES OWNED BY UBI BANCA IN CITY OF MILAN

* HAS ALSO SIGNED LEASE CONTRACTS WITH RESPECTIVE PURCHASERS OF PROPERTIES SOLD

* WILL REALISE A FINAL GROSS GAIN OF APPROXIMATELY EUR 54 MILLION, WHICH WILL BE IN PART RECOGNISED (APPROX. 30%) IN 2Q 2020 RESULTS AND IN PART IN 3Q 2020 RESULTS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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