Bank Unicredito Italiano is reportedly considering selling the majority stake that smaller rival Capitalia owns in the real estate fund management firm Fimit. Bank Unicredito and Capitalia recently agreed to merge.
Bank Unicredito Italiano is reportedly considering selling the majority stake that smaller rival Capitalia owns in the real estate fund management firm Fimit. Bank Unicredito and Capitalia recently agreed to merge.
According to a report in Italian newspaper Milano Finanza, Fimit's minority shareholders are interested in buying the 51.55% stake owned by Capitalia. The newspaper added that the bank will also consider the option of merging Fimit with its Pioneer fund company.
Fimit's minority shareholders include Italy's social security institution for the public sector (INPDAP) with a 38.91% stake, and ENPALS, a fund for employees in the entertainment industry, which holds a 6.81% interest in Fimit.
UniCredito is buying Capitalia for more than EUR 21 bn in shares to create Europe's second largest bank.
