JOINT PRESS RELEASE
BANCA INTESA - ABN AMRO
Amsterdam/Milano, 11 September 2006
ABN AMRO and Banca Intesa announce today ABN AMRO will exercise its right to call Banca Intesa’s remaining 3.86% holding in Banco ABN AMRO Real. ABN AMRO has opted to pay for the stake in cash.
Banca Intesa will receive approximately €233 million and make a capital gain of approximately €20 million in its third-quarter 2006 consolidated statement of income.
Banca Intesa acquired an 11.58% holding in Banco ABN AMRO Real in 2003 in partial consideration for the sale that year of its 94.57% stake in Banco Sudameris Brasil to Banco ABN AMRO Real. In relation to that transaction, Banca Intesa obtained the right to sell one third of its position in Banco ABN AMRO Real to ABN AMRO in June 2005, a further one third in June 2006 and the remainder in June 2007. ABN AMRO had a call option, exercisable at any time, to acquire the Banco ABN AMRO Real shares owned by Banca Intesa. In relation to this option exercise, ABN AMRO had the option to pay Banca Intesa either in cash or shares.
In June 2005, Banca Intesa exercised its put option for one third of its original 11.58% shareholding, and on 12th June 2006 Banca Intesa exercised its put option for the second tranche of 3.86%. Upon completion of the exercise of the call option by 20th September, Banca Intesa will no longer own a stake in Banco ABN AMRO Real.
This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange asecurities. The shares of Banca Intesa S.p.A. may not be offered or sold in the United States except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.
ABN AMRO
Investor Relations
+31.20.6287835
ABN AMRO
Press Contact
+31.20.6288900
Banca Intesa
Investor Relations
+39.02.87943180
investorelations@bancaintesa.it
Banca Intesa
Media Relations
+39.02.87963531
stampa@bancaintesa.it
www.bancaintesa.it
Last updated 11 September 2006 at 15:21
