Intesa Sanpaolo, UniCredit Sell Eramet Stake for EUR169.4 million
By Pietro Lombardi
Italian banks Intesa Sanpaolo SpA (>> Intesa Sanpaolo) and UniCredit SpA (>> UniCredit SpA) on Wednesday completed the sale of their 11.176% stake in French mining and metallurgical group Eramet SA (>> Eramet) for EUR169.4 million ($202.6 million).
Intesa Sanpaolo and UniCredit sold all the shares they had in Eramet, 7.114% and 4.062% respectively, at EUR57 per share, the lenders said in a statement.
Banca IMI, the investment bank of the Intesa Sanpaolo Group, BNP Paribas and UniCredit Corporate & Investment Banking are joint bookrunners.
Eramet shares trade at EUR57.28, down 9.87%.
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