Bpm sold its 81% stake in Bpm Vita to Covea. The deal was concluded for an amount equal to 243 million euros, a figure that will have to be re-evaluated by an expert, appointed by both parties, on the basis of the shareholders' equity as of 31 August.
The bank announced that, taking into account the negative performance of the financial markets since the signing of the preliminary contract to date, a first estimate of the capital gain stands at 20 million euro. The positive impact of the sale on the Core tier 1 of the Milanese bank is 23 basis points and on the total capital ratio of 55 basis points. The Bpm share at 10:30 recorded a rise of 1,13%.
