IFIL-1.20 % of Intesa Sanpaolo ordinary capital soldJuly 24, 2008
IFIL communicates that in recent days it has sold 141,716,165 ordinary shares of Intesa
Sanpaolo in the market at an average price of € 3.51 per share, for a total value of
€ 497 million.
The transaction produces a capital gain after income taxes of approx. € 65 million at the
consolidated level and of approx. € 142 million at the separated balance sheet level.
IFIL today retains a participation of 1.25% in Intesa Sanpaolo’s ordinary share capital.
Commenting on the transaction, IFIL’s Managing Director Carlo Sant’Albano said:
“With this transaction IFIL increases its cash resources readily available for new
investments. We confirm our complete confidence in the management of Intesa Sanpaolo
in which we retain a significant holding.”