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Popolare Vicenza to bag 21 million euros from sale of stake in Italy's IMA
May 5, 2017 / 6:56 AM / 7 months ago

Popolare Vicenza to bag 21 million euros from sale of stake in Italy's IMA

MILAN (Reuters) - Banca Popolare di Vicenza BPVS.UL will pocket 21.3 million euros ($23 million) from the sale of a stake in Italian packaging company IMA (IMAI.MI), the lender said on Friday.

A Banca Popolare di Vicenza sign is seen in Rome, Italy, March 29, 2017. REUTERS/Alessandro Bianchi

The bank, which has recently asked for state aid to stay in business, said in a statement it had completed the sale of a 0.683 percent stake in IMA through an accelerated book building.

The transaction, on which Banca IMI acted as sole bookrunner, was carried out at a prusdeaice of 79.5 euros for each IMA share.

Reporting by Francesca Landini, editing by Stephen Jewkes

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