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UniCredit successfully concludes the disposal of Pioneer Investments to Amundi

Following the signing of the agreement on 11th December 2016, today UniCredit has completed the disposal of Pioneer Investments to Amundi.


Terms and conditions of the transaction remain unchanged as announced on 12th December 2016.


The closing of the transaction will generate a net capital gain of about € 2.1bn for UniCredit Group and create an increase of the Fully Loaded CET1 ratio of around 84bps based on March 2017 figures (pro-forma for Bank Pekao disposal). This will be accounted for in the third quarter of 2017.


Consistently with Transform 2019 plan and as announced during the 1Q17 results presentation, UniCredit Group dividend payout ratio for 2017 will be defined excluding the net P&L impact arising from the sale of Pioneer Investments and Bank Pekao, the latter amounting to -0.3bn in 2Q17  generated by negative currency effects on P&L, already included in the calculation of the  capital ratio as at December 2016 as well as in the Transform 2019 targets.


JPMorgan, Morgan Stanley and UniCredit Corporate & Investment Banking were joint financial advisors and Gianni Origoni Grippo Cappelli & Partners provided legal advice.


 Milan, 3 July 2017







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