INTESA SANPAOLO SIGNS AGREEMENT FOR THE SALE OF 30% OF CARIFANO TO CREDITO VALTELLINESE
Torino, Milano, 30 July 2008 – Today, Intesa Sanpaolo and Credito Valtellinese signed an agreement for the sale to Credito Valtellinese of the entire stake owned by the Intesa Sanpaolo Group in Cassa di Risparmio di Fano, representing 30% of the latter’s share capital. Under the terms of this agreement, Credito Valtellinese shall also succeed in the loan which Banca Intesa granted in 2005 – simultaneously with the acquisition of the 30% stake on the part of its subsidiary Intesa Casse del Centro – to a company belonging to a group of local entrepreneurs for the acquisition of 69.9% of Carifano’s share capital, receiving this same interest as a pledge.
The consideration for the sale of the 30% stake in Carifano amounts to approximately 100 million euro, in line with the carrying value in the Intesa Sanpaolo consolidated balance sheet.
The finalisation of the transaction is subject to obtaining the necessary authorisations.
Last updated 30 July 2008 at 18:22