UniCredit sold about 10 percent. Pekao – Banker

[Update 07/13/2016 hours. 7:00] UniCredit sold in the ABB approx. 10 per cent. Pekao shares for approx. 3.3 billion zł (749 million euros) – UniCredit announced in a press release. For institutional investors went approx. 26.2 million shares at a price 126 zł per unit.

 
 

After the transaction, UniCredit will continue to hold a controlling stake in Pekao, which corresponds to 40.1 percent. of the share capital of the company. Lock-up in relation to the remaining shares is 90 days.

 

On Tuesday at the closing exchange rate Pekao totaled 134.6 zł, which means that the transaction Italian bank has been concluded at the rate of approx. 6% lower.

 

The proceeds from the transaction funds will increase the rate of CET1 UniCredit group by 12 points base – the bank said.
 

Unicredit said Tuesday evening that the process accelerated bookbuilding (ABB) will start immediately. According to Bloomberg, the process was to end up with hours. 21.00 Polish time.

 
 

According to the communication offer was addressed to certain institutional investors. “The offer will allow UniCredit to further strengthen the capital position while maintaining control of the company” – is written in the message.

 

The sale of Pekao UniCredit said the market for several months, but the company has not commented on this information. On Tuesday, UniCredit shares on the Warsaw Stock Exchange gained 11.59 percent.

 

The coordinators of the transaction were institutions: Morgan Stanley & amp; What. International plc, Citigroup, UBS Limited and UniCredit Corporate & amp; Investment Banking.

 

 

UniCredit is against the wall

And yet. Dementowania After weeks of rumors about the sale of shares in Pekao SA Italian UniCredit in quite an emergency – not to say panic – got rid of 10% of the shares of the second largest bank in Poland. In the industry we all still remember how a few years ago, the Irish AIB were forced to sell a controlling stake in BZ WBK, although it was then their only profitable business.

Read more: UniCredit is against the wall

 

 

Morawiecki: Domestication banks an important part of the PiS

 

             The program PiS assume that how will such opportunities
 market, it will try to increase the participation of Polish institutions in the
 the banking sector – said PAP deputy Mateusz Morawiecki commenting
 UniCredit’s announcement. sales to 10 percent. Pekao.
           

 

“How are you this opportunity, it will definitely be
 ago they watched with great attention and do not exclude any scenario “-
  Morawiecki said.

 

“You can see that decision as to changes in the shareholding Pekao SA launched
 a. The program PiS assume that how will these market opportunities,
 it will try to increase the participation of Polish institutions in the sector
 banking, so domestication of banks is a very important part for us
 program, “- he stressed.

 

As noted, a possible investor in Pekao SA could not be PKO
 BP. “PKO BP as the number one on the market could take over Pekao SA, which
  is the position of number two, because of the behavior of competition in the market -
 PKO BP in conjunction with Pekao SA would be too dominant. So
 if such opportunities arise, then you need to use other entities “-
  Morawiecki said.

 

UniCredit sold a 10% stake in FinecoBanku

 

UniCredit sold 60.7 million shares of FinecoBank SpA representing 10%
  in its share capital, through an accelerated book-building process
  the demand for a total of approx. 328 million euros, said the institution.
 

 

“UniCredit S.p.A. announces conducting a successful offer for
 institutional investors for 60.7 million existing ordinary shares
 FinecoBank SpA representing 10% of the share capital of the company, at a price
 5.40 euros per share. Closing of the tender is 14 July 2016. “-
 reads the release.

 

UBS Limited and UniCredit Corporate & amp; Investment Banking were Joint Bookrunners.

 

Price in the offer contained approx. 6% discount to the last price
 before closing the offer. UniCredit expects that it will translate to
 increase tier 1 capital ratio by approx. 8 basis points.

 

After the closing of the transaction, UniCredit will hold 55.4% of the shares FinecoBanku.

 

“The transaction should be regarded as an exposure group in
 strengthening and optimizing the capital position and a resume
 Proactive portfolio management, in which all without
 Exception assets will be subjected to the same disciplined management and
 every opportunity to surge in value will be used “-
 the release reads.
 

 At the end of May with
 He stepped down as chairman of UniCredit Federico Ghizzoni.

 

UniCredit is one of the largest banking groups in Europe,
 operating in 50 countries worldwide, including nearly 20 in Europe. Is
  listed on the Warsaw Stock Exchange since 2007.

 

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