2014_06_30 - Finalized sale of Eurovita

NEWS RELEASE
Verona, 30 June 2014
Banco Popolare, Aviva and Finoa: finalized sale of Eurovita
Assicurazioni S.p.A.
After the green light of the competent Authorities, Banco Popolare Soc. Coop. (“BP”), Aviva Italia Holding
S.p.A. (“AVIVA”) and Finoa S.r.l. (“FINOA”) executed the agreement to sell 79.62% of the company
Eurovita Assicurazioni S.p.A. (”EUROVITA”) to JCF III Eurovita Holdings S.a.r.l., an affiliate of private
investments funds advised by J.C. Flowers & Co. LLC, for a total consideration of Euro 47 million.
EUROVITA, an insurance company that distributes its products through a pervasive network of Italian
local and regional banks, is owned 77.55% by FINOA, a 50/50 Joint Venture between Banco Popolare
and Aviva whose single material asset is the equity investment in EUROVITA, and 2.07% by Banco
Popolare.
In particular:
•
BP sold its entire 2.07% equity stake in EUROVITA for a consideration of approx. Euro 1.2 million;
•
FINOA sold its entire 77.55% equity stake in EUROVITA for a consideration of approx. Euro 45.8
million.
In parallel with the execution of the sale of EUROVITA, BP and AVIVA started the dissolution procedure
to end the Joint Venture in FINOA.
For BP, the transaction does not entail significant economic impacts, since the shareholding value is
already in line with the selling price.
BP has been advised by the Law Firm Clifford Chance.
Press Relations
T +39 045 8675048 / 867 / 381 / 121
[email protected]
Investor Relations
T +39 045 8675537
[email protected]
www.bancopopolare.it (IR section)

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