UniCredit Reaches Non-Binding Deal to Sell Part of Russian Business
UniCredit has reached a non-binding agreement to sell a portion of its Russian subsidiary, AO Bank. The deal involves a UAE investor, marking a step towards the bank's divestment from its Russian operations.
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UniCredit to sell parts of its Russian business
Bank says move will hit profits by up to €3.3bn
Read full article →UniCredit reaches non-binding agreement to sell part of its Russian business
(ANSA) - ROME, MAY 7 - UniCredit said Thursday that it has reached a non-binding agreement to sell part of its Russian subsidiary, AO Bank, to a "well-established private investor in the United Arab Emirates". The Italian lender said AO Bank will be broken up, with it retaining its payments arm and selling off the rest to the UAE entity. UniCredit has been scaling down its business in Russia since Moscow's invasion of Ukraine in 2022. "The parties will cooperate to finalise the transaction st...
By ANSA
Read full article →UniCredit to Sell Part of Russian Subsidiary to UAE Investor
UniCredit said the deal is expected to close in the first half of 2027 and will result in a hit to profits of around $3.5 billion.
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