The stake was acquired by a consortium of investors comprising Gestinter, MA.VA. Company, Duet BIM, SerendipEquity BIM, MI.MO.SE, Romed, Piovesana, Pietro, DAD & SON, Building, Cruiser Srl, Gianfranca Cradled, Serfin Services Financial Srl, Alessandro Federici, Nasi Valentina and Luca Cordero di Montezemolo.
The sale forms part of an intiative to strengthen the lender’s capital base.
After the transaction is completed, Veneto Bank will retain a stake of about 20% in the share capital of BIM.
Veneto Banca president Francesco Favotto said: "The sale of BIM is the last of the major milestones of the capital strengthening plan launched in November 2013.
"With this step our CET 1 is now well beyond the safety threshold set by the ECB."
The transaction is subject to obtaining the provision from the Bank of Italy, and a public tender offer is scheduled to be launched in the first half of 2015.
Banca Intermobiliare is currently worth around €480m on the market, reported Reuters.
Meanwhile, the bank has also signed an agreement for the sale 55% of the share capital of Banca IPIBI Financial Advisory (IPIBI), which along with BIM stake sale is expected to add 73 basis points to the lender’s Common Equity Tier 1 capital ratio.
