Intesa to Sell 50% Stake in Allfunds Bank for EUR900 Million to Hellman & Friedman, GIC
March 07 2017 - 3:35AM
Dow Jones News
By Giovanni Legorano
ROME--Italian lender Intesa Sanpaolo SpA said Tuesday it has
agreed to sell its 50% stake in Allfunds Bank for EUR900 million
($954 million) to Hellman & Friedman and GIC.
The bank said it will make a capital gain of around EUR800
million on the sale.
Intesa held the stake though Eurizon Capital SGR, an asset
manager it controls.
Write to Giovanni Legorano at giovanni.legorano@wsj.com
(END) Dow Jones Newswires
March 07, 2017 04:20 ET (09:20 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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