UniCredit is taking part to Banca MB liquidation plan set up by bodies appointed by Bank of Italy, with the objective to fully protect the depositors of Banca MB.
In this context, on 13 May 2011, UniCredit and the Liquidator of Banca MB entered into an agreement whereby Banca MB sold to UniCredit its entire credit portfolio (both performing and non-performing), having a nominal value, as at 13 May 2011, of about €414.5 million, at a price of €246.1 million.
The depositors of Banca MB will be entitled to:
• follow the standard reimbursement procedure, requesting the payment directly to the Liquidator; or
• benefit from the funds directly made available by UniCredit, up to a maximum amount of €127.8 million, through payment of the relevant amount into current accounts to be opened by depositors, starting from 20 May 2011, subject to certain conditions. Such amounts will be deducted form the price payable for the credit portfolio
The remaining portion of the purchase price due by UniCredit will be paid in cash directly to the Liquidator.
Milan, May 13rd, 2011