Intesa Sanpaolo expects a capital gain of approximately E270 million in its consolidated income statement as a result of this transaction.
In addition, Intesa Sanpaolo (ISP) and Banca Monte dei Paschi di Siena (MPS) have signed a further agreement which will see ISP pay E196.2 million to purchase a company that will carry out the depositary bank services of MPS.
Furthermore, the banks have stated that the agreement commits MPS to negotiate, on an exclusivity basis for a six-month period, the acquisition by Intesa Sanpaolo of MPS’ custody activities.
As a result of the sale-and-purchase deal, MPS will significantly strengthen its presence in northern Italy, while ISP will see its securities services activities strengthen.
The transactions are subject to regulatory approvals.
