January 30, 2013 / 8:12 PM / in 5 years

UniCredit completes sale of Pekao stake for 890 mln euros

MILAN, Jan 30 (Reuters) - Italy’s UniCredit said on Wednesday it had completed the sale of a stake of around 9.1 percent in Poland’s No. 2 bank Pekao for 890 million euros ($1.21 billion).

UniCredit, Italy’s biggest bank in terms of assets, said the capital gain from the sale was about 135 million euros.

Earlier on Wednesday market sources told Reuters UniCredit had closed the books on the sale of a minority stake in Pekao at 156 zlotys per share.

UniCredit said it continued to hold a 50.1 percent stake in its Polish unit and remained fully committed to the bank as well as to Poland, which remained core to UniCredit’s franchise and strategy.

“UniCredit is not envisaging any sales of additional shares of Pekao following the completion of the placement,” it said.

$1 = 0.7370 euros Reporting By Stephen Jewkes

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