(CercleFinance.com) – AXA announces the launch of the sale of 100 million Banca Monte dei Paschi di Siena shares, i.e. approximately 7.94% of the capital, as part of a private placement by way of accelerated construction of an order book reserved for institutional investors.
Not wishing to be represented on the board of directors of Monte dei Paschi, nor to influence its long-term strategy, the group considers it appropriate to sell its stake purchased as part of a capital increase.
The final terms of the offer are expected to be announced no later than February 28. Settlement and delivery of the shares are expected to take place on or around March 2.
AXA will retain (directly or not) 0.0007% of the capital of Monte dei Paschi. The offer does not affect their partnership or AXA’s commitment to the Italian market.