August 1, 2017 / 3:58 PM / 2 years ago

Banco BPM aims to clinch Aletti sale to Anima this week - sources

MILAN, Aug 1 (Reuters) - Banco BPM aims to ink the sale of its Aletti Gestielle unit to asset manager Anima Holding by the end of the week, three sources familiar with the matter said on Tuesday.

Italy’s third-largest bank, which was born last year from the merger of Banca Popolare di Milano and Banco Popolare, owns 14.7 percent of Anima and has a distribution agreement with the asset manager until 2030.

The sources said no decision had yet been taken and negotiations continued with a focus on Aletti’s value, which has been estimated by both sources and analysts at 600-700 million euros ($708-826 million) depending on the terms of distribution accords.

“The goal is to close it in a matter of days,” one of the sources said.

Another source said Anima may hold a board meeting to approve an offer on Friday, on the same day when Banco BPM’s board meets over first-half results. ($1 = 0.8477 euros) (Reporting by Andrea Mandala and Maria Pia Quaglia, writing by Valentina Za; editing by Agnieszka Flak)

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