By Joshua Kirby

 

Intesa Sanpaolo SpA said Wednesday that a disposal of a going concern as part of a deal with BPER Banca SpA will be completed partly in the second half of February 2021 and partly in the second quarter of the year.

The Italian bank has agreed to dispose of a pool of branches of the new combined entity as part of an arrangement to take over Unione di Banche Italiane SpA.

It said Wednesday that the closure of UBI branches would take place in the second half of February next year, while Intese Sanpaolo branches would close in the second quarter.

 

Write to Joshua Kirby at joshua.kirby@dowjones.com

 

(END) Dow Jones Newswires

September 30, 2020 05:02 ET (09:02 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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