UniCredit: Signed contract with Poste Italiane for the disposal of 100% of UniCredit MedioCredito Centrale
Following the press release issued on 13 September 2010, UniCredit and Poste Italiane S.p.A. ("Poste") signed today an agreement for the disposal to Poste of 100% of UniCredit MedioCredito Centrale S.p.A. ("MCC"), in the context of the project promoted by the Ministry of Economy and Finance. MCC will become, post closing, the vehicle for the creation of the Banca del Mezzogiorno.
The transaction envisages the disposal of MCC for a consideration of €136 million, payable by Poste upon completion of the transfer of the shares which is expected around Spring 2011, subject to certain conditions including authorizations to be received by Poste from relevant regulatory authorities. UniCredit will benefit from MCC's result for the financial year 2010 as well as for 2011 up to the date of completion.
UniCredit was advised by UniCredit Corporate & Investment Banking.
Milan, December 20, 2010
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