June 26, 2017 / 5:35 AM / 7 months ago

BRIEF-Intesa Sanpaolo signs deal to buy certain assets, liabilities of two Veneto banks

June 26 (Reuters) - Intesa Sanpaolo says:

* signs contract to acquire certain assets and liabilities of Banca Popolare di Vicenza and Veneto Banca

* will acquire a segregated scope of Veneto banks which excludes NPLs, subordinated bonds issued, as well as shareholdings and other legal relationships that bank does not consider functional to acquisition

* will allocate 60 million euros in total as restitution to small savers who hold subordinated bonds issued by two Veneto banks

* acquisition includes shareholdings in Banca Apulia, Banca Nuova, SEC Servizi, Servizi Bancari, and, subject to approval of related authorisations, in banks operating in Moldavia, Croatia and Albania

* scope of Veneto banks acquisition includes high-risk performing loans of around 4 billion euros, has right to give these back if by end-2020 become bad loans or unlikely-to-pay loans

* acquisition fully neutral in terms of Intesa Sanpaolo group’s common equity Tier 1 ratio and dividend policy

* public cash contribution in Veneto banks acquisition leads to a phased- in common equity tier 1 ratio of 12.5 percent to risk-weighted assets (rwa) acquired Source text for Eikon: Further company coverage: (Reporting by Milan newsroom)

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