Intesa Sanpaolo Vita sales the Chinese Insurance Company
Intesa Sanpaolo Vita signs agreements for the sale of 19.9% of the Chinese Insurance Company Union Life
Torino, Milano, 23 January 2014 - Intesa Sanpaolo Vita has signed a binding memorandum of understanding concerning the sale of the stake held in Chinese insurance company Union Life (representing 19.9% of the latter's capital) for a consideration of 146 million euro. This transaction will generate a positive contribution of approximately 30 million euro after tax to the Group's income statement. The transaction is subject to prior authorization from local supervisory bodies.