Within the 2017 Intesa Sanpaolo will sell all non-core stakes, which at the end of 2013 were worth a total of 1,9 billion euros. This is one of the points of the 2014-2017 plan presented today by the Bank.
The institute has already disposed of the equity investment in Generali in the last quarter of 2013 (approximately 360 million euro) and those in Pirelli, Sia and Union Life in the first quarter of 2014 (approximately 35, 80 and 145 million euro), for a value total book value of approximately 620 million and a total capital gain of approximately 320 million. Non-core holdings still in the Bank's portfolio include shares in Rcs, Alitalia e Telecom Italy.
As for the possibility that the institution uses the eight billion excess capital to make new acquisitions, the CEO Carlo Messina clarified that “at the moment there are no dossiers on the table" is that "in any case, the growth will not be in Italy".
On the foreign front, on the other hand, "it will depend on the targets and prices - the manager specified -, but at the moment I don't see any opportunities". The eight billion will therefore be returned to the shareholders "if it will not be possible to find any possibility of growth", Messina explained again, also revealing that the possible conversion of savings "is not a priority at the moment".
On the Ukrainian side, Intesa is working with the regulators of Kiev on sale of the subsidiary Pravex, since the situation with the buyers is not clear: “They have to tell us if it is possible to sell a Bank to a person who has problems with the law – said the CEO -. There is currently no evidence of a relationship."
At the end of January, Intesa reached an agreement for the sale of Pravex-Bank to CentraGas Holding, which belongs to the DF group of billionaire Dmytro Firtash, arrested in Vienna in mid-March as part of an investigation relating to an investment in India in 2006 and then released on bail.
At the end of the morning, the Intesa share gained 4,4% in Piazza Affari, scoring one of the best increases in the Ftse Mib. The wave of purchases comes in the wake of the publication of accounts 2013.
