INTESA SANPAOLO AND THE OTHER MAIN SHAREHOLDERS COMPLETE SALE OF 59.3% OF SIA’S SHARE CAPITAL
Turin - Milan, May 28th 2014 – Having obtained necessary authorisation, Intesa Sanpaolo, UniCredit, Banca Monte dei Paschi di Siena and BNL have today completed the sale of 59.3% of SIA’s share capital to Fondo Strategico Italiano, F2i SGR and Orizzonte SGR. The Intesa Sanpaolo Group sold 28.9%, UniCredit 20.1%, Banca Monte dei Paschi di Siena 5.8%, and BNL 4.5%.
The price has been determined on the basis of a valuation of 100% of SIA’s share capital equal to €765 million that includes approximately €100 million paid out in dividends before the completion of the transaction.
As a result of the completion of the sale, the three purchasers now hold the following stakes in SIA’s capital: Fondo Strategico Italiano 42.3%, F2i SGR 10.3%, Orizzonte SGR 6.7%. Intesa Sanpaolo and UniCredit retain a 4% stake each, while Banca Monte dei Paschi di Siena and BNL have exited the shareholder base and the other existing shareholders of SIA hold a 32.7% aggregate stake.
The Intesa Sanpaolo Group’s consolidated net income has recorded a positive contribution of approximately €170 million from the transaction.
Last updated 28 May 2014 at 19:12