November 21, 2016 / 4:25 PM / 3 years ago

Intesa Sanpaolo in talks to sell 500 million euro properties to IDeA FIMIT

MILAN (Reuters) - Italy’s Intesa Sanpaolo (ISP.MI) has started exclusive talks to sell properties worth around 500 million euros ($531 million) to IDeA FIMIT, the asset manager of DEA Capital group (DEA.MI), two sources close to the matter said on Monday.

Italy’s second-biggest lender aims to ink the deal by the end of the year, one of the sources said, adding the real estate portfolio put on sale is mainly made up of bank branches.

The two groups declined to comment on the deal.

($1 = 0.9414 euros)

Reporting by Elisa Anzolin and Gianluca Semeraro; writing by Francesca Landini; editing by Giulia Segreti

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