Unicredit sells 10% stake in Pekao for PLN 3.3 bln
12:08
Italian UniCredit has sold 26.2 million shares, accounting for around 10 percent stake in its Polish unit Bank Pekao for PLN 3.3 billion in total (PLN 126 per share), the lender said.
"The price represents a discount of approximately 6 percent to the last pre-announcement closing price of Pekao," a statement read. The transaction will allow it to increase its Core Tier-1 ratio by some 12 basis points, the bank said.
Following the transaction, UniCredit said it "continues to hold a controlling shareholding in Pekao, corresponding to 40.1 percent of the Company's share capital."
A Warsaw-based financial sector source told Reuters that Tuesday's placement made the sale of the entire UniCredit stake in Pekao more probable. Another Poland-based source said UniCredit was likely to cut its stake to about 33 percent.
UniCredit said it had nothing to add to its statement. The bank has agreed to a 90-day lockup period with respect to its remaining 40.1 percent shareholding.
Earlier on Tuesday, the Italian lender sold a 10 percent stake in online broker FinecoBank for €328 million.
