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.
Last updated 5 June 2015 at 17:42