MILAN, 27 FEB – Axa has launched an accelerated book building to sell its stake in Mps, equal to 7.94% of the capital. The placement, entrusted to Exane Bnp Paribas, takes place at a price between 2.33 and 2.47 euros, with a 10-15% discount on today’s closing price of the stock, reads a message to investors. The sale of Axa’s share in Mps “does not impact in any way Axa’s partnership with the bank or Axa’s commitment on the Italian market”, specifies the French company. “As a long-standing partner in the joint-venture” in bancassurance “Axa has supported the bank by participating in its most recent capital increases as a financial investment”. “As Axa does not intend to seek representation on the bank’s board at the next shareholders’ meeting, or influence the bank’s long-term strategy, Axa believes it is time to sell its stake purchased with the capital increase.” At the end of the sale of the shares, Axa will maintain a stake of 0.0007% of the capital in MPS. (HANDLE).
(HANDLE)