logo
Share SHARE
FONT-SIZE Plus   Neg

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dealing a potentially fatal blow to a last-ditch effort by Republicans to repeal and replace Obamacare, Senator John McCain, R-Ariz., on Friday announced his opposition to a healthcare bill drafted by Senators Lindsey Graham, R-S.C., and Bill Cassidy, R-La. Reiterating his claim that Russian meddling in last year's election is a hoax, President Donald Trump has argued that the biggest influence on the election came from the media. Trump seemed to suggest in a post on Twitter on Friday that his victory in the presidential election came despite the media's... U.S. airlines collected a record $7.1 billion in revenue from fees for checked baggage and for changing or canceling reservations, reflecting a marked increase from 2010, according to a government report. The U.S. Government Accountability Office or GOA said in a report that U.S. airlines' revenue from these two fees increased to $7.1 billion in 2016 from $6.3 billion in 2010, in constant dollars.
comments powered by Disqus
Follow RTT