Banca MPS disposes of its equity stake in Finsoe

Today Banca Monte dei Paschi di Siena sold the whole of its equity stake in Finsoe, the company that owns the majority of Unipol Gruppo Finanziario’s ordinary shares.

The stake, which accounts for 13% of Finsoe’s share capital, was purchased partially by Holmo (No. 95,044,750 shares) and partially by Finsoe itself (No. 184,016,500 shares). The transaction settlement price totalled EUR 234.4 million, resulting in a unit price (ex. coupon) of EUR 0.84 per share, which increases to EUR 0.915 if the dividends cashed by Banca Mps (EUR 20.9 million) are included. For the Siena-based bank, this will result in a Tier-1 benefit of approx. 10 basis points (and a total ratio improvement of 17bps).

As Banca Monte dei Paschi di Siena is no longer a Finsoe shareholder, the shareholders’ agreement entered into by Holmo and Banca Monte dei Paschi di Siena was terminated.