Popular Bank of Vicenza Scpa informs that the preliminary contract has been signed for the transfer by the subsidiary BPVi Fondi SGR to Arca SGR SpA of two business branches relating respectively to the management of the fourteen mutual funds belonging to the Pacto Fondi System (the "Branch ICR") consisting of the collective asset management activities carried out by BPVi Fondi itself and the management of institutional portfolios (the "GPA Branch").
Altogether the masses of the OICR branch and the GPA branch as at 30 June last they amounted to approximately € 1,3 billion. Completion of the transaction is subject, inter alia, to obtaining the necessary authorizations from the Supervisory Authority. The consideration for the sale will be promptly determined on the effective date of the transaction on the basis of the volumes on the same date and will be subject to a partial adjustment mechanism which will be applied in the medium term.
