Intesa Sanpaolo to Complete Branch Closures in February and 2Q 2021
September 30 2020 - 4:17AM
Dow Jones News
By Joshua Kirby
Intesa Sanpaolo SpA said Wednesday that a disposal of a going
concern as part of a deal with BPER Banca SpA will be completed
partly in the second half of February 2021 and partly in the second
quarter of the year.
The Italian bank has agreed to dispose of a pool of branches of
the new combined entity as part of an arrangement to take over
Unione di Banche Italiane SpA.
It said Wednesday that the closure of UBI branches would take
place in the second half of February next year, while Intese
Sanpaolo branches would close in the second quarter.
Write to Joshua Kirby at joshua.kirby@dowjones.com
(END) Dow Jones Newswires
September 30, 2020 05:02 ET (09:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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