Milano, 07 October 2002
JOINT PRESS RELEASE
INTESABCI, DEUTSCHE BANK,
BANCA POPOLARE COMMERCIO E INDUSTRIA
IntesaBci, Deutsche Bank and Banca Popolare Commercio e Industria reached a financial agreement for the sale of the bare ownership of the 24.92% stake of Banca Carime still held by IntesaBci to Deutsche Bank and the drawing up by Deutsche Bank and Banca Popolare Commercio e Industria of a call option (exercisable by 2006) and a put option (exercisable in 2006) concerning this stake on conditions equivalent to the current ones.
The sale, for a consideration of approximately 400 million euro, generates a capital gain of approximately 220 million euro on IntesaBci’s consolidated statement of income.
The operation doesn’t change Banca Popolare Commercio e Industria’s commitments and reflects positively on Banca Popolare Commercio e Industria’s statement of income from now up to 2006 for a present value of approximately 15 million euro.
The closing of the operation is subject to the authorisation of the competent authorities.
Last updated 7 October 2002 at 11:23