UPDATE: Banca Popolare Emilia Buys 36 UniCredit Branches
MILAN -(Dow Jones)- Italy's Banca Popolare dell'Emilia Romagna SpA (BPE.MI) Thursday said it will acquire 36 branches from banking giant UniCredit SpA (UCG.MI) for EUR148.5 million.
In a statement sent to Italy's stock exchange Thursday afternoon, Banca Popolare dell'Emilia Romagna said the acquisition - which includes UniCredit branches in Sicily and in the central Lazio and northeastern Veneto regions of Italy - will be effective as of Dec. 1.
UniCredit is selling 183 branches to meet conditions set in 2007 by Italy's antitrust authority, which called for branch sales as part of measures to overcome the possible anti-competition effects of UniCredit's merger with domestic bank Capitalia SpA.
Following the acquisition, Banca Popolare dell'Emilia Romagna said it will "further strengthen its presence nationally."
Separately, in a series of press releases to the stock exchange Thursday evening, other Italian banks announced they had successfully completed previously announced branch purchases from UniCredit.
Banca Popolare dell'Etruria e del Lazio SpA (PEL.MI) said it had concluded the purchase of 14 branches from UniCredit for EUR41.8 million. The operation had received antitrust approval on Sept. 28, according to the statement.
Meanwhile, Credito Emiliano SpA (CE.MI) said that it had concluded the purchase of 34 UniCredit branches for a total consideration of EUR150.6 million.
In a separate release, Banca Popolare di Milano SpA (PMI.MI) said that it had completed the acquisition of 39 branches from UniCresdit for EUR213.8 million.
Also, in another statement Thursday evening, Banca Carige SpA (CRG.MI) said that it had concluded the acquisition of 40 branches from UniCredit for a total of EUR138.5 million.
UniCredit shares closed up 0.5% at EUR1.79 apiece.
-By Gordon Sorlini, Dow Jones Newswires; +39-02-5821-9908; gordon.sorlini@dowjones.com
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(END) Dow Jones Newswires
November 27, 2008 14:37 ET (19:37 GMT)
Publié le 27 novembre 2008 Copyright © 2008 Dowjones
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