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BRIEF-UniCredit to sell Italian pawncredit business to Dorotheum
November 30, 2017 / 6:57 AM / 15 days ago

BRIEF-UniCredit to sell Italian pawncredit business to Dorotheum

Nov 30 (Reuters) - UniCredit says:

* SIGNED BINDING AGREEMENT WITH DOROTHEUM FOR DISPOSAL OF ITS ITALIAN PAWNCREDIT BUSINESS

* DOROTHEUM TO PAY 141 MILLION EUROS AT CLOSING, DEAL ALSO INCLUDES POTENTIAL EARN-OUT IN FAVOUR OF UNICREDIT OF UP TO 10 MILLION EUROS TO BE PAID AFTER THREE YEARS

* DEAL TO GENERATE POSITIVE IMPACT FOR BANK OF AROUND 100 MILLION EUROS IN 2018 AND ALMOST 4 BPS ON CONSOLIDATED CET 1 RATIO Further company coverage: (Reporting by Milan newsroom)

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