Intesa Sanpaolo, UniCredit Sell Eramet Stake for EUR169.4 million

By Pietro Lombardi Features Dow Jones Newswires

Italian banks Intesa Sanpaolo SpA (ISP.MI) and UniCredit SpA (UCG.MI) on Wednesday completed the sale of their 11.176% stake in French mining and metallurgical group Eramet SA (ERA.FR) for EUR169.4 million ($202.6 million).

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Intesa Sanpaolo and UniCredit sold all the shares they had in Eramet, 7.114% and 4.062% respectively, at EUR57 per share, the lenders said in a statement.

Banca IMI, the investment bank of the Intesa Sanpaolo Group, BNP Paribas and UniCredit Corporate & Investment Banking are joint bookrunners.

Eramet shares trade at EUR57.28, down 9.87%.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

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September 13, 2017 03:44 ET (07:44 GMT)