October 4, 2018 / 8:45 AM / in 19 days

Monte dei Paschi close to selling Belgian unit for 50 mln euros - source

MILAN, Oct 4 (Reuters) - Italian state-owned bank Monte dei Paschi di Siena is close to selling its Belgian unit to private equity firm Warburg Pincus in a 50 million euro ($57 million) deal, a source familiar with the matter said on Thursday.

The source confirmed an earlier report by Bloomberg News.

The disposal, on which Monte dei Paschi is being advised by Rothschild, is part of commitments the Tuscan bank agreed with the European Commission to clear last year’s state bailout.

Monte dei Paschi was not immediately available for comment.

$1 = 0.8708 euros Reporting by Paola Arosio, writing by Valentina Za, editing by Mark Bendeich

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