Mediobanca To Sell €1.5B In Italian Corporate Stakes

Law360, New York (June 21, 2013, 2:07 PM EDT) -- Mediobanca Banca di Credito Finanziario SpA, Italy's leading investment bank, plans to sell its stakes in several Italian companies for a total of €1.5 billion ($2 billion) in an effort to distance itself from the country's struggling economy, the bank announced Friday.

Mediobanca will write down assets valued at more than €400 million in addition to selling 3 percent of its stake in Italian insurance company Assicurazioni Generali and divesting itself of stakes in various other unnamed Italian companies.

The sales are part of the bank's...
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