UniCredit Sells Stake in Turkish Bank for EUR440 Million
February 06 2020 - 1:09AM
Dow Jones News
By Carlo Martuscelli
UniCredit SpA. (UCG.MI) said Thursday that it raised 440 million
euros ($484.8 million) in an accelerated bookbuild in which it sold
100.7 billion shares in Turkish lender Yapi ve Kredi Bankasi AS
(YKBNK.IS).
Following the bookbuild, the company holds 168.9 billion shares
in YKB, the Italian bank said.
UniCredit said the transaction, which it will book in its
first-quarter results this year, will generate a hit of about
EUR820 million on its consolidated profit and loss accounts. The
impact from the disposal on its consolidated common equity Tier 1
ratio is expected to be about 0.5 percentage points, it said.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
February 06, 2020 01:54 ET (06:54 GMT)
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