UniCredit Gross Proceeds From Mediobanca Stake Sale EUR785 Million
07 Novembre 2019 - 7:30AM
Dow Jones News
By Sarah Sloat
UniCredit SpA (UCG.MI) said late Wednesday that it sold its 8.4%
stake in Mediobanca-Banca di Credito Finanziario SpA (MB.MI) for
gross proceeds of about 785 million euros ($869.6 million).
The bookbuilding process set a per-share price of EUR10.53, the
Italian bank said. The placement of about 74.5 million ordinary
shares represents UniCredit's entire shareholding in
Mediobanca.
UniCredit expects the transaction to be largely neutral in terms
of its CET 1 capital ratio, a measure of capital strength.
Bank of America Corp.'s Securities (BAC), Morgan Stanley (MS)
and UniCredit's Corporate and Investment Banking division acted as
joint bookrunners of the placement.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
November 07, 2019 01:15 ET (06:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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