Brief: UniCredit Announces Deal With UnipolSai, Allianz To Simplify Bancassurance Sector

UnipolSai Assicurazioni SpA

07/07/2023 16:43

July 7 (Reuters) - UniCredit SpA  CRDI.MI :
    * UNICREDIT, UNIPOLSAI ASSICURAZIONI HAVE ENTERED INTO A
SHARE
PURCHASE AGREEMENT PURSUANT TO WHICH UNICREDIT PURCHASED, 51% OF
THE ISSUED SHARE CAPITAL OF INCONTRA
    * UNICREDIT AND ALLIANZ ENTERED INTO ANOTHER SHARE PURCHASE
AGREEMENT PURSUANT TO WHICH ALLIANZ PURCHASED THE 50% OF THE
ISSUED SHARE CAPITAL OF INCONTRA.
    * WILL GROW FROM 49% TO 50% OF ISSUED SHARE CAPITAL OF
INCONTRA,
WHILE ALLIANZ WILL OBTAIN CONTROL FOLLOWING SHAREHOLDERS'
AGREEMENT
    * CLOSING OF BOTH TRANSACTIONS EXPECTED BY YEAR-END
    * TRANSACTIONS WILL HAVE A NEGLIGIBLE CAPITAL IMPACT FOR
UNICREDIT

Further company coverage:  CRDI.MI 

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