BMPS: Has closed the sale of the belgian subsidiary
Banca Monte dei Paschi di Siena (BMPS) has finalised the sale of its entire shareholding in Banca Monte Paschi Belgio (BMPB) to funds managed by Warburg Pincus.
The agreement, which was already announced to the market on 5 October 2018, is part of the MPS Group’s divestment programme set out in the 2017/2021 Restructuring Plan and represents a further step towards fulfilling the commitments undertaken with the European Commission.
The sale of BMPB generates a positive impact of more than 10bps on BMPS’ CET1.
BMPS was assisted by Rothschild as financial advisor and by Orrick, Herrington & Sutcliffe as legal advisor.
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