OREANDA-NEWS. February 04, 2014. Intesa Sanpaolo has signed an agreement concerning the sale of 100% of the capital of its Ukraine subsidiary Pravex - Bank  to CentraGas Holding Gmbh for a consideration of 74 million euro.

Finalisation of the transaction is subject to regulatory approval being obtained and is expected to take place within three to six months.

As a result, the consolidated income statement will record a negative contribution of approximately 100 million euro after tax, that includes approximately 60 million euro attributable to the release of foreign exchange differences from the related valuation reserve.