Banca Monte dei Paschi di Siena and SIA's other main shareholders sign agreements for the disposal of 59.3% of share capital

Intesa Sanpaolo, UniCredit, Banca Monte dei Paschi di Siena and BNL have signed agreements with Fondo Strategico Italiano, F2i SGR and Orizzonte SGR for the disposal of 59.3% of SIA’s share capital, of which 28.9% held by the Intesa Sanpaolo Group, 20.1% by Unicredit, 5.8% by Banca Monte dei Paschi di Siena and 4.5% by BNL.

The consideration was determined based upon the equity value of 100% of SIA’s share capital, amounting to EUR 765 mln.

Subsequent to the transaction, the three acquirers will have the following shareholdings in SIA: Fondo Strategico Italiano 42.3%, F2i SGR 10.3%, Orizzonte SGR 6.7%. Intesa Sanpaolo and UniCredit will each retain a 4% stake in SIA while Banca Monte dei Paschi di Siena and BNL will sell their shares in full. The other existing shareholders will retain the remaining 32.7% of SIA’s share capital.

Following the completed disposal of its shareholding in SIA, expected by mid-2014, Banca Monte dei Paschi di Siena will post a positive P&L impact of approx. EUR 37 mln.

In this transaction, the selling banks have been assisted by HSBC as financial advisor and Pedersoli e Associati as legal advisor.

Completion of the transaction is subject to approval by the relevant authorities.