(AOF) – AXA, whose stake in Banca Monte dei Paschi di Siena SpA amounts to 100,008,907 shares, representing approximately 7.94% of the share capital of the Italian bank, announced the launch of the sale of 100,000,000 of shares, as part of an offer by accelerated bookbuilding to institutional investors. Following the potential completion of the placement, the insurer will retain 0.0007% of the capital of Banca Monte dei Paschi di Siena.
AXA is a long-standing partner of the Italian bank, which it supported by making a financial investment by participating in its last capital increase.
Since the insurer does not wish to seek representation on the board of directors at the next annual general meeting of the bank’s shareholders, nor to influence its long-term strategy, it considers that it is appropriate to sell its stake acquired in the framework of the bank’s capital increase.
The placement does not in any way affect AXA’s partnership with the Bank or AXA’s commitment to the Italian market.