5 Years : From Apr 2015 to Apr 2020 ROME--UniCredit SpA (UCG.MI) said Tuesday it has put a stake in financial services company FinecoBank SpA (FBK.MI) up for sale for about 328 million euros ($364.1 million), as part of the Italian bank's focus to boost capital. In a statement, Italy's biggest bank by assets said it placed the 10% stake in FinecoBank via an accelerated bookbuilding process at a price of EUR5.40 a share. UniCredit said it will hold a 55.4% stake in the financial services company once the placement is completed. The sale will boost UniCredit's common equity Tier 1 ratio, which gauges capital solidity, by about eight basis points. UniCredit announced its intention to sell the FinecoBank stake on Monday.
UniCredit has put a 10% stake in FinecoBank up for sale through an accelerated bookbuilding process at €5.40 per share. The deal is expected to close by the end of this year. Following the sale, UniCredit will retain a 55.4% stake in FinecoBank.