MILAN, March 7 Italy's Intesa Sanpaolo
said it had agreed to sell its 50 percent share in mutual fund
platform Allfunds Bank to private equity Hellman & Friedman and
Singapore sovereign fund GIC for around 900 million euros in
cash ($953 million).
Italy's biggest retail bank said in a statement on Tuesday
it would book a net capital gain from the sale of some 800
Madrid-based Allfunds Bank is jointly owned by Intesa and
Santander Asset Management.
Intesa Sanpaolo was advised by Bofa Merrill Lynch and Morgan
($1 = 0.9445 euros)
(Reporting by Giulia Segreti and Stephen Jewkes)