Intesa Sanpaolo invested another 46 million euros

The Group Intesa Sanpaolo has invested another 46 million euros in taking over the remaining 10 percent minus one share of Banca Intesa Beograd, whereby the process of the ownership consolidation was successfully concluded.

According to Mr. Silvio Pedrazzi, Deputy President of the Executive Board of Banca Intesa Beograd, Serbian market has great development perspectives, therefore the strategic decision of the Group is to continue its investing here, which was confirmed through the taking over of the remaining shares from the ex-owner Delta Holding.

The share of Intesa Sanpaolo in the equity capital of Banca Intesa Beograd at the moment amounts 93 percent, meanwhile the remaining 7 percent is in the ownership of International Financial Corporation, (IFC), which is a part of the World Bank. The IFC, as an investment bank, purchased in June 2006 a share of 7% and that way additionally strengthened solidity of Banca Intesa Beograd.

We would like to remind that Banca Intesa in the beginning of August 2005 purchased 90% of shares plus one share and that way became an owner of Delta Banka a.d. Beograd. On that occasion they also signed a supporting contract which regulated to the shareholders also a fulfillment of right to purchase the remaining 10% minus one share by Banca Intesa, i.e. a vendor’s right to sell these shares in the period of next four years.