INTESA SANPAOLO: REMAINING 25% STAKE IN FINDOMESTIC SOLD TO BNP PARIBAS
Torino, Milano, 22 June 2011 – Intesa Sanpaolo and BNP Paribas have today signed an agreement for the sale of the former’s remaining 25% stake in Findomestic to the BNP Paribas Group for an amount of 629 million euro. Intesa Sanpaolo currently holds the stake through its subsidiary Banca CR Firenze.
Finalisation of the transaction is expected by the end of this week and is not subject to regulatory approval.
As a result, the Intesa Sanpaolo Group will record a positive contribution of around 130 million euro to its net income and of about 11 basis points to its Core Tier 1 ratio in the second quarter of 2011.
BNP Paribas will take full control of Findomestic through its subsidiary BNP Paribas Personal Finance.
Last updated 22 June 2011 at 19:53