October 12, 2016 / 3:07 PM / 9 months ago

BRIEF-UniCredit ERG Renew swap values ERG shares at 12.8 euros each

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Oct 12 (Reuters) - Italy's ERG says:

* UniCredit swaps an ERG Renew 7.14 percent shareholding for a stake in ordinary treasury shares of ERG group of 4 percent

* The swap ratio agreed for the exchange is approximately 0.78 ERG ordinary shares for each ERG Renew share, considering a value of 12.8 euros for each ERG ordinary share

* UniCredit will observe a 180 day lock-up commitment on ERG shares Further company coverage: (Reporting by Milan newsroom)

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