INTESA SANPAOLO FINALISES DISPOSAL OF 36 BRANCHES TO VENETO BANCA
Torino, Milano, 14 February 2008 – Today, after having obtained the necessary authorisations, 36 branches of the Intesa Sanpaolo Group have been sold to Veneto Banca for a total consideration of €274.4 million. This disposal which comes into effect as of 18 February 2008 includes branches located in the provinces of Imperia (5 branches), Venezia (12), Padova (7), Udine (9) and Rovigo (3).
The finalisation of this transaction is the first step in the fulfilment of the sale-and-purchase framework agreements signed on 5 October 2007, subsequently amended and integrated, which relate to the disposal of 198 branches of the Intesa Sanpaolo Group expected to be completed by the end of this March. The above is in compliance with decision No. 16249 issued by the Italian Competition Authority on 20 December 2006 relative to the Banca Intesa and Sanpaolo IMI merger.
Last updated 14 February 2008 at 14:38