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UniCredit sells its majority shareholding in Banca Agricola Commerciale della Repubblica di San Marino

PRESS RELEASE

 

 

UniCredit sells its majority shareholding in Banca Agricola Commerciale della Repubblica di San Marino

 

 

UniCredit S.p.A. ("UniCredit") informs that it has signed an agreement for the disposal of its c. 85% shareholding in Banca Agricola Commerciale della Repubblica di San Marino S.p.A. ("BAC") to Demas S.A. ("Demas"), a company headquartered in Luxembourg which holds c. 77% of the share capital of Istituto Bancario Sammarinese.

 

The price has been agreed at c. €62.2mln for UniCredit's shareholding in BAC. In addition, BAC will distribute, prior to closing of the transaction, dividends and reserves for a total amount of c. €40.6mln (of which c. €34.6mln payable to UniCredit), resulting in a total consideration for UniCredit of approximately €96.8mln.

 

Closing of the transaction is subject to the approval of San Marino's supervisory authority (Banca Centrale della Repubblica di San Marino) and the distribution of reserves by BAC.

 

UniCredit was assisted by Mediobanca as financial advisor and Grimaldi e Associati as legal counsel.

 

 

Milan, 4 April 2011

 

 

Enquiries:

 

Media Relations: Tel. +39 02 88628236;
e-mail: MediaRelations@unicredit.eu

Investor Relations: Tel. + 39 02 88628715;
e-mail: InvestorRelations@unicredit.eu