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UniCredit and the other main shareholders reach the agreement for teh sale of 59.3 of the share capital of SIA

After receiving the necessary approvals, UniCredit, Intesa Sanpaolo, Banca Monte dei Paschi di Siena e BNL have closed today the sale of 59.3% of SIA's share capital, of which 28.9% held by Intesa Sanpaolo Group, 20.1% by UniCredit, 5.8% by Banca Monte dei Paschi di Siena and 4.5% by BNL, to Fondo Strategico Italiano, F2i SGR and Orizzonte SGR.


The consideration has been determined on the basis of an equity value for the 100% of the share capital of SIA equal to c. Euro765 million, of which c. Euro 100 million paid as dividends before closing.


As a result of the transaction, the acquirors will have the following shareholdings in SIA: Fondo Strategico Italiano 42.3%, F2i SGR 10.3%, Orizzonte SGR 6.7%. Intesa Sanpaolo and UniCredit will retain a 4% stake each, while Banca Monte dei Paschi di Siena and BNL will sell their shares in full and the other existing shareholders will retain the remainder 32.7% of SIA's share capital.


The overall net impact of the shareholding in SIA on UniCredit's consolidated income statement at the transaction date is c Euro 140 million, of which c Euro 12 million booked in the first quarter of 2014 as a result of the application of the equity method.



Milan, 28 May 2014