INTESA SANPAOLO FINALISES DISPOSAL OF 84 BRANCHES TO THE CREDITO VALTELLINESE GROUP, BANCA POPOLARE ALTO ADIGE AND BANCA POPOLARE DI BARI
Torino, Milano, 21 February 2008 – Today, after having obtained the necessary authorisations, the following branch disposals have been finalised and will come into effect as of 25 February 2008:
• 35 branches, for a total consideration of €395 million, to the Credito Valtellinese Group, of which 12 to Credito Artigiano in the Pavia province and 23 to Credito Piemontese in the provinces of Alessandria (4) and Torino (19);
• 6 branches, for a total consideration of €54 million, to Banca Popolare Alto Adige in the Venezia province;
• 43 branches, for a total consideration of €181 million, to Banca Popolare di Bari in the provinces of Pesaro (2), Terni (11), Napoli (15), Caserta (10) and Brindisi (5).
The finalisation of this transaction - after the disposal of 36 branches to Veneto Banca completed on 14 February last - is the second 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. Such disposal is expected to be completed by the end of this March with the sale of the remaining branches to Banca Carige. 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 21 February 2008 at 16:14