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INTESA SANPAOLO FINALISES SALE OF 19.9% OF CHINESE LIFE INSURANCE COMPANY UNION LIFE

 
Turin - Milan, June 5th 2015 
– Intesa Sanpaolo communicates that the sale of the stake held by the Bank’s subsidiary Intesa Sanpaolo Vita in Chinese life insurance company Union Life (19.9% of the latter’s capital) has been finalised today for a consideration of approximately 165 million euro. This transaction represents a positive contribution of around 50 million euro after tax to the consolidated income statement.

Intesa Sanpaolo Vita has been assisted by Chiomenti Studio Legale as legal advisor.

 

 

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