(ANSA) - MILAN, 09 NOV - Unicredit sells its entire stake in YapÕ to Koc Holding.
We read it in a note.
Consequently, Koc will purchase Yapi shares equal to 18% of the share capital, for a total consideration of approximately 300 million euros at the current exchange rate, while the remaining 2% is expected to be sold on the market.
Completion of the sale to Koc is subject to obtaining all the necessary regulatory authorizations in the jurisdictions concerned and is expected in the first quarter of 2022.
Based on the data as at 30 September 2021, it is expected that the sale of the entire Yapi shareholding will have an overall moderate positive impact on UniCredit's consolidated Cet1 ratio. For the year 2021, assuming other conditions, the transaction will generate a negative impact on the consolidated income statement of approximately 1.6 billion euro (based on the values at the third quarter of 2021), deriving mainly from the exchange fluctuation reserve relating to the investment in Yapi, which does not generate any impact on Cet1 as it is already currently recognized.
(HANDLE).
