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BRIEF-Banco BPM agrees to repurchase stake in joint venture with insurer Aviva
September 28, 2017 / 7:40 PM / 21 days ago

BRIEF-Banco BPM agrees to repurchase stake in joint venture with insurer Aviva

Sept 28 (Reuters) - Banco BPM says:

* signed deal with Aviva Group to repurchase the 50 percent plus one share in Avipop Assicurazioni, a joint venture it had created with the British insurer

* purchase price of Avipop Assicurazioni’s stake is 252.5 million euros plus a portion of dividends of Avipop for 2017 estimated at 12.5 million euros

* deal will generate 15 basis point decline the bank’s fully-loaded CET1 ratio

* is it assessing proposals from primary insurance companies to try to find new partner for the insurance business Further company coverage: (Reporting by Milan newsroom)

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