Printer Friendly

Intesa Sanpaolo boards approve sale of Custodian operation unit.

Global Banking News-18 December 2009-Intesa Sanpaolo boards approve sale of Custodian operation unit(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 18 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Intesa Sanpaolo SpA (ISP.MI) (OTCBB: ISNPY) has said that its management and supervisory boards have approved the sale of the bank's securities services unit and that the deal could be announced shortly, Dow Jones has reported.

Citing people familiar with the situation, the report said that Intesa Sanpaolo was in advanced talks with US group State Street Corporation (NYSE: SST) in a deal worth up to EUR1.8bn.

The sale of non-core assets was announced by Intesa Sanpaolo chief executive Corrado Passera earlier this year as part of a plan to strengthen the bank's capital ratios, it noted.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Dec 18, 2009
Words:157
Previous Article:Northeast Community Bancorp declares quarterly dividend.
Next Article:Morgan CEO foregoes bonus.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters