February 8, 2019 / 6:18 AM / 3 months ago

Italy's Unipol to sell banking unit to BPER Banca for 220 mln euros

MILAN, Feb 8 (Reuters) - Italy’s Unipol agreed to sell its banking unit Unipol Banca to BPER Banca for 220 million euros ($249 million) in cash, the insurance group said on Friday.

Unipol also agreed to buy — through its NPL management unit — a portfolio of BPER Banca’s non-performing loans with a gross value of 1.3 billion euros for a payment of 130 million euros.

$1 = 0.8821 euros Reporting by Giulio Piovaccari

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