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Eramet Stock Dips As Intesa Sanpaolo, UniCredit Sell All Stake For EUR 169.4 Mln

Italian lenders Intesa Sanpaolo S.p.A. (IITSF, ISNPY) and UniCredit SpA (UCG,UNCFF.PK) announced Wednesday that they have completed the sale of about 2.97 million shares equal to 11.176% of ordinary share capital of Eramet S.A. The total consideration of the offering receivable by both companies will amount to 169.4 million euros.

In Paris, Eramet shares were losing around 11.33 percent to trade at 56.35 euros.

At completion of the offering, ISP and UCI sold all the shares they had in Eramet's share capital, specifically ISP 7.114% and UCI 4.062%.

On Tuesday, Intesa Sanpaolo and UniCredit announced that they have started, through an accelerated book-building procedure, the sale of Eramet shares.

The companies now said the offering, following an accelerated book-building process aimed at certain Italian qualified and international institutional investors, was priced at 57 euros per share and will be settled on September 15.

Banca IMI S.p.A. (Intesa Sanpaolo Group), BNP Paribas S.A. and UniCredit Corporate & Investment Banking (Unicredit Group) acted as Joint Bookrunners.

by RTT Staff Writer

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