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Friday, July 21, 2017

UniCredit Bank inks deal with BNP Paribas on DAB Bank stake

UniCredit Bank announced recently that it has signed definitive agreements with BNP Paribas on the sale of the bank's 81.4 percent majority stake in DAB Bank.

The terms and conditions of the transaction were outlined in a joint understanding that was finalized on July 31 and subsequently approved by UniCredit Bank's supervisory board.

The transaction is still subject to the approval of relevant authorities.

BNP Paribas has said it intends to execute a public takeover of DAB Bank through a German subsidiary for a consideration of $6.40 per share, as agreed with UniCreditBank.