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Report: Unipol taps Credit Suisse for potential sale of banking unit to BPER

Italian financial group Unipol Gruppo SpA tapped Credit Suisse to look into a potential sale of unit Unipol Banca SpA to BPER Banca SpA, two sources told Reuters.

The deal is reportedly expected to take place in 2019. BPER recently tapped Citi to advise it on the deal, according to a third source.

Unipol CEO Carlo Cimbri previously said Unipol Banca could potentially tie up with BPER. The group owns 15% of BPER and the companies operate a joint venture in insurance, Reuters noted.