MPS: sells at Poste 10, 3% of Anima Holding for 210 million – AGI – Agenzia Journalistic Italy

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08:20 April 15, 2015

(AGI) – Florence, April 15 – Banca Monte dei Paschi di Siena announces that it has reached, on 14 April 2015, an agreement with the Italian Post Office on the sale at Poste participation of 10.3% stake in Anima Bmps Holding. The total value of the transaction and ‘of 6.967 euro per share, in line with the average price recorded by the share Soul last month. In particular, the consideration provided and ‘equal to € 6.80 per share subject to sale, for a total of about 210 million euro, with the addition of the dividend for 2014 will be’ attributed to Bmps (EUR 0.167 per share, EUR 5.2 million in total for the investment held). As part of the agreement, in order to protect from Poste event of extraordinary scope related to market risk – reads a note – and ‘was provided a mechanism for adjustment of the sale price to Poste benchmarked to the average price of market shares Soul weighted daily volumes traded from the date of signing the contract until 24 July 2015, the date by which it must be completed the Capital Plan of BMPS. If the weighted average price should be less than € 5.27, BMPS will be ‘forced to retreat to Poste the amount of EUR 1.53 per share. The sale will imply ‘for Bmps a net positive impact on the income statement, as the sum of the capital gain and dividend received and net of any effects of the mechanism of price adjustment of approximately Euro 115 million, with a positive impact on the consolidated net CET1 about 20 bps. The execution of the sale and ‘subject to the fulfillment of certain conditions precedent, including obtaining any necessary regulatory approvals (and, where necessary, confirmation of Consob about the lack of obligation to make a tender offer ) and the signing of an agreement between BMPS, Post and Banca Popolare di Milano, with which BPM gives its assent to the execution of the sale of the shares and Poste succeeding in every right and obligation to Bmps with full release of the latter, under the shareholders ‘agreement signed between the same Bmps and BPM on 5 March 2014, already’ announced to the market. This agreement will allow ‘to Bmps – it always reads the statement – to divest in Soul and, at the same time, respect the commitments made at the time with BPM thanks to the takeover of Poste in the shareholders’ agreement. The deadline for the fulfillment of the conditions precedent and ‘July 15, 2015.
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