Unicredit Global repay convertible Capitalia

Exercise the option to repay in advance bonds convertible into shares that Capitalia General issued in May 2004, expiring in 2009, Unicredit starts further exit total institution Leo. Unicredit cosà ¬ sends down its participation in the Institute of Insurance from 4.5% to about 3.5%. Following the merger with Capitalia, UniCredit saw increased its shareholding in Global since it was already in possession of 3.76%, as capital, which had already begun his spill from the capital of the 'Institute of Trieste, still had a residual of 0.995%. In 2003, Capitalia with Unicreti and MPS had acquired shares in the Global initiatives to keep the Italian Group of Leon, with convertible bond at 2.8%, then rose to 3.6% with shares of subsidiaries. Bondholders may require the equivalent in cash (around 25.5 million), or convert into shares by requesting it by the date of 7 December to process, so as shown by UniCredit, the second hypothesis seems to be the major cost ¹. Fact, the Generali shares will then be reimbursed according to the market value of the moment of 'assignment a week later. When General à ¨ quoted at around 31.80 euros.

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