INTESA SANPAOLO FINALISES THE SALE OF SECURITIES SERVICES BUSINESS TO STATE STREET CORPORATION
Torino, Milano, 17 May 2010 – Today, after having obtained the necessary authorisations, Intesa Sanpaolo has finalised the sale of its securities services business to State Street Corp. for a consideration of about 1,750 million euro, of which about 1,280 million euro corresponds to the goodwill value, resulting in a gross capital gain of around 740 million euro and goodwill release of around 540 million euro for the Intesa Sanpaolo Group, with a positive effect of around 37 basis points on its Core Tier 1 ratio.
Rothschild S.p.A. and Banca IMI were the financial advisors for Intesa Sanpaolo in this transaction, while McKinsey&Company provided business consultancy and Pedersoli e Associati acted as legal advisor.
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Last updated 17 May 2010 at 08:47
