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UniCredit: update on the execution of the share buy-back programme during the period from 30 September 2024 to 4 October 2024
PRESS RELEASE
08 October 2024
PRICE SENSITIVE
Within the UniCredit S.p.A. (the “Company” or “UniCredit”) share buy-back programme communicated to the market on 16 September 2024 and initiated on the same date, as per the authorisation granted by the Shareholders’ Meeting of the Company held on 12 April 2024 (the “2024 SBB Anticipation”) – on the basis of the information received from Morgan Stanley & Co. International Plc as intermediary in charge of executing, in full independence (so-called “riskless principal” or “matched principal”), the 2024 SBB Anticipation – UniCredit informs, pursuant to art. 2, paragraph 3, of the Delegated Regulation (EU) 2016/1052, that it has carried out the transactions indicated below.
The chart below provides aggregate details of the daily purchases of UniCredit ordinary shares (ISIN IT0005239360), made from 30 September 2024 to 4 October 2024.
Summary of purchase transactions from 30 September 2024 to 4 October 2024
Date
Type of transaction
Aggregated volume
Weighted average price (Euro)
Trading venue
30 September 2024
Purchase
879,176
39.6234
MTA
1 October 2024
Purchase
2,252,311
38.8673
MTA
2 October 2024
Purchase
2,352,703
37.8128
MTA
3 October 2024
Purchase
2,410,813
37.7725
MTA
4 October 2024
Purchase
524,692
38.1581
MTA
Total
8,419,695
38.2939
The details of all the purchase transactions carried out in the period indicated above are available in Excel format at www.unicreditgroup.eu (“Press & Media” / “Press releases”).
As of 4 October 2024, since the launch of the 2024 SBB Anticipation, UniCredit purchased no. 19,933,389 shares, equal to 1.22% of the share capital for a total consideration of Euro 754,354,767.18 (equal to 44.37% of the total amount of the 2024 SBB Anticipation). As of the same date, following the cancellation of the treasury shares on 26 June 2024, UniCredit holds a total of 62,176,364 treasury shares equal to 3.80% of the share capital.
UniCredit: Moody’s affirms ratings, highlighting potential for upgrade of bank’s stand alone rating above Italian sovereign
PRESS RELEASE
02 October 2024
PRICE SENSITIVE
The rating agency Moody’s has affirmed UniCredit SpA’s Senior Preferred (unsecured) debt and long-term deposit ratings at Baa1, with a stable outlook.
At the same time, the rating agency stated that, in the event of UniCredit acquiring Commerzbank, it will consider the potential for UniCredit’s stand-alone rating (Baseline Credit Assessment) currently at baa3 to be upgraded to baa2, one notch above Italy’s sovereign rating. This would lead to higher ratings on senior non-preferred and junior debt as well.
For further details please refer to the corresponding press release on the website of the rating agency: www.moodys.com
Milan, 2 October 2024
Contacts
Media Relations: e-mail MediaRelations@unicredit.eu
Investor Relations: e-mail InvestorRelations@unicredit.eu
UniCredit: update on the execution of the share buy-back programme during the period from 23 September 2024 to 27 September 2024
PRESS RELEASE
01 October 2024
PRICE SENSITIVE
Within the UniCredit S.p.A. (the “Company” or “UniCredit”) share buy-back programme communicated to the market on 16 September 2024 and initiated on the same date, as per the authorisation granted by the Shareholders’ Meeting of the Company held on 12 April 2024 (the “2024 SBB Anticipation”) – on the basis of the information received from Morgan Stanley & Co. International Plc as intermediary in charge of executing, in full independence (so-called “riskless principal” or “matched principal”), the 2024 SBB Anticipation – UniCredit informs, pursuant to art. 2, paragraph 3, of the Delegated Regulation (EU) 2016/1052, that it has carried out the transactions indicated below.
The chart below provides aggregate details of the daily purchases of UniCredit ordinary shares (ISIN IT0005239360), made from 23 September 2024 to 27 September 2024.
Summary of purchase transactions from 23 September 2024 to 27 September 2024
Date
Type of transaction
Aggregated volume
Weighted average price (Euro)
Trading venue
23 September 2024
Purchase
1,830,264
37.2068
MTA
24 September 2024
Purchase
1,664,793
37.2140
MTA
25 September 2024
Purchase
752,961
37.7006
MTA
26 September 2024
Purchase
26,980
38.5174
MTA
27 September 2024
Purchase
428,575
39.4120
MTA
Total
4,703,573
37.4968
The details of all the purchase transactions carried out in the period indicated above are available in Excel format at www.unicreditgroup.eu (“Press & Media” / “Press releases”).
As of 27 September 2024, since the launch of the 2024 SBB Anticipation, UniCredit purchased no. 11,513,694 shares, equal to 0.70% of the share capital for a total consideration of Euro 431,931,605.68 (equal to 25.41% of the total amount of the 2024 SBB Anticipation). As of the same date, following the cancellation of the treasury shares on 26 June 2024, UniCredit holds a total of 53,756,669 treasury shares equal to 3.28% of the share capital.
UniCredit launches a strategic process to fully internalize life bancassurance in Italy. Exercise of the rights to acquire CNP UniCredit Vita and UniCredit Allianz Vita majority stakes
PRESS RELEASE
25 September 2024
PRICE SENSITIVE
UniCredit S.p.A. (“UniCredit”) has started the process to internalize its life bancassurance business in Italy through the termination of the current agreements with CNP Assurances S.A. (“CNP Assurances”) and Allianz S.p.A. (“Allianz”). This entails the exercise of the related rights to acquire CNP Assurances 51% stake in CNP UniCredit Vita S.p.A. (“CUV”) and Allianz’s 50% stake in UniCredit Allianz Vita S.p.A. (“UAV”). Upon closing, UniCredit will hold 100% in CUV and UAV.
Following long-standing partnerships with two of the most reputable global insurance groups such as CNP Assurances and Allianz, the internalization of life bancassurance factories in Italy will allow UniCredit to accelerate growth in a commission-focused sector with attractive profitability where UniCredit is already one of the leading players, extract business synergies and further strengthen the service level offered to customers.
The current set-up of the non-life bancassurance business will not be impacted and will continue to be operated through the joint ventures with Allianz at the terms communicated to the market in January 2022.
As part of the mentioned internalization process, the Board of Directors of UniCredit approved: (1) the termination of the shareholders’ agreement with CNP Assurances and the simultaneous exercise of the call option on the entire stake (51%) held by CNP Assurances in CUV and (2) the termination of the shareholders’ agreement with Allianz and the related acquisition of the entire stake (50%) held by Allianz in UAV.
The exercise of the call option on CUV is based on the terms of the shareholders’ agreement entered in 2017, as amended from time to time. Under this agreement, the purchase price will be determined through a specific procedure based on agreed methodologies.
The exercise of the termination right from the agreement with Allianz and related acquisition of the Allianz stake in UAV is based on the terms of the shareholders’ agreement originally entered in 1996, last renewed in 2022. Also under this agreement, the purchase price will be determined through a specific procedure based on agreed methodologies. The process, among other, foresees the engagement of an independent expert to certify the purchase price.
For both companies, which are planned to be eventually merged, operations will rely on the current setup including, for a transitional period, on the services provided by the current insurance partners, according to the shareholders’ agreements.
Closing of each of the transactions is subject to the standard authorizations by the competent authorities and is expected in 2025.
Upon closing, the two companies will report managerially to the recently created bancassurance division led by Alessandro Santoliquido who is responsible for overseeing the insurance business at Group level.
The transactions will be cash funded. The impact on the Group’s capital position will depend on the purchase prices that will be determined. Based on preliminary estimates, the overall impact on the Group’s CET1 ratio is expected to be approximately 20bps, as a result of UniCredit being acknowledged by ECB as a fully-fledged financial conglomerate subject to supplementary supervision and the application of the Danish Compromise.
Key figures
In 2023 the two companies, UAV and CUV, collected roughly Euro 7.5bn of Gross Written Premiums, with total technical reserves of about Euro 44.9bn.
In Italy, the Life Bancassurance business generated circa €500m in distribution fees (12% of total Italy fees) in 2023, on top of the circa €85m of profits from the shareholdings in the two companies.
Milan, 25 September 2024
Contacts
Media Relations
e mail: mediarelations@unicredit.eu
Investor Relations
e mail: InvestorRelations@unicredit.eu
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UniCredit Partner of Barcolana per il Sociale 2024
Friday 11 October 2024
UniCredit renews its historic support for Barcolana 2024, confirming its role as Partner of “Barcolana per il Sociale”. The initiative promotes social integration and accessibility to water sports for people with disabilities. UniCredit also supports parasailing projects through Carta Etica and maintains its role as the official sponsor of the Italian Federation of Paralympic Sports.
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Friday 27 September 2024
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UniCredit is the Main Partner of Filarmonica della Scala also for 2025 Season
Wednesday 11 September 2024
Our Group proudly renews its partnership as Main Partner of Filarmonica della Scala for the 2025 concert season, a commitment reflecting our dedication to promoting art and culture, fundamental pillars for the education and growth of new generations.
The UniCredit Art Collection is a living and growing resource with treasures that reflect our Group's pan-European identity. One of the artists present in our collection is Luca Pozzi, an artist inspired by the worlds of art, physics, multi-messenger cosmology and computer science.
2023 Annual Report Recognised as a Winner at Vision and Arc Awards
Tuesday 03 September 2024
It is official. For the second consecutive year, UniCredit has been honored as a winner in both the League of American Communications Professionals LLC (LACP) Annual Report Competition, and the Annual International ARC Awards.