Banco BPM SpA on Dec. 28 closed the sale of 100% of Aletti Gestielle SGR SpA to Anima Holding SpA for a €700 million consideration.
The consideration was paid the same day, subject to certain adjustments, including that Anima will within 180 days pay Banco BPM an amount equal to the net shareholders' equity, including accrued net profit as of the closing date, in excess of €10 million.
Shareholders of Anima Holding approved during a Dec. 15 general meeting a share capital hike of up to €300 million to finance the deal. Aletti Gestielle also green-lighted the distribution to Banco BPM of available reserves corresponding to €161.5 million.
Banco BPM, which owns a 14.27% stake in Anima Holding, said the deal will increase its fully phased common equity Tier 1 ratio by 91 basis points.