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Name | Symbol | Market | Type |
---|---|---|---|
Intesa Sanpaolo SPA (PK) | USOTC:ISNPY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.3599 | 1.66% | 22.0299 | 21.97 | 22.04 | 22.07 | 21.85 | 21.87 | 366,139 | 21:00:26 |
By Liam Moloney
ROME--Intesa Sanpaolo SpA (ISNPY) said on Monday it has agreed to sell two units for 1.04 billion euros ($1.20 billion) in cash to a consortium comprising private-equity funds Advent, Bain Capital and Clessidra, as part of the Italian bank's focus on core businesses.
In a statement, Intesa Sanpaolo said it entered into a sales-and-purchase agreement with Mercury U.K. Holdco Ltd. for its Setefi and Intesa Sanpaolo Card payments unit.
The deal is expected to be finalized by the end of this year and will generate a net capital gain of about EUR892 million in Intesa Sanpaolo's 2016 consolidated income statement, the lender added.
Last week, The Wall Street Journal cited a person familiar with the matter as saying the Italian bank was in talks with a number of buyers to sell its Setefi payments unit in a deal that could value the business around EUR1 billion.
Write to Liam Moloney at liam.moloney@wsj.com
(END) Dow Jones Newswires
May 02, 2016 03:04 ET (07:04 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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