UNI Unipol Gruppo SpA

   DOW JONES NEWSWIRES 
 

Italy's Unipol Gruppo Finanziario SpA (UNI.MI) said Thursday that BNP Paribas (BNP.FR, BNPQY) will buy a 51% stake in their bancassurance joint venture, BNL Vita, for EUR325.2 million in cash.

In a filing to the Italian stock exchange website, the company said the sale will generate Unipol a net capital gain of more than EUR50 million on its individual balance sheet, but will have no significant impact on the consolidated 2011 earnings of the company.

The actual transfer of the stake will take place in coming months following all the necessary regulatory authorizations, Unipol said.

Exchange website: www.borsaitaliana.it

-By Enza Tedesco, Dow Jones Newswires, enza.tedesco@dowjones.com