M&A

10 November, 2009

UPDATE 1-UniCredit completes Sabadell stake sale

* UniCredit to book 30 mln euro net gain

* Each Sabadell share sold at 4.35 euros (Adds statement on completion of deal)

MILAN, Nov 10 (Reuters) - Italian bank UniCredit (CRDI.MI) said it has completed the sale of its 3.23 percent in Spain's Sabadell (SABE.MC) for 168.6 million euros ($252.5 million).

Earlier on Tuesday, UniCredit said it was placing the stake via an accelerated bookbuilding for institutional investors.

Each Sabadell share was placed at 4.35 euros, it said in a statement, adding the disposal of its entire Sabadell holding will generate a net capital gain of 30 million euros.

(Reporting by Danilo Masoni)

($1=.6676 Euro)

Source: http://www.reuters.com