Intesa Sanpaolo sold 100% of the Ukrainian subsidiary Pravex Bank to Centra Gas Holding Gmbh for 74 million euros. The institute communicates this in a note, specifying that the completion of the transaction is expected within the next 3-6 months, with a negative impact on the consolidated income statement of approximately 100 million after taxes, of which approximately 60 million deriving from release of the relative foreign exchange reserve.
Intesa has also signed a binding protocol for the sale of the stake held by the parent company Intesa Sanpaolo Vita in the Chinese life company Union Life (19,9% of share capital) for a consideration of 146 million. In this case, on the other hand, there is a positive impact on the consolidated income statement of around 30 million after taxes.
The transaction is subject to approval by the local supervisory authorities. Intesa Sanpaolo also announces that in the first half of 2014, following the purchase and sale agreements signed in December 2013 and already disclosed to the market, the group is expected to record a net capital gain of approximately 150 million from the completion of the sale of 28,9% of the capital of Both.
At the beginning of the afternoon, the Intesa Sanpaolo share on the Stock Exchange was just above parity (+0,15%).
