Italian bank, the oldest in the world, intends to sell Belgian business to American investment fund

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Next week, Italian bank Banca Monte dei Paschi di Siena may announce a sale of about 50 million euros of its division in Belgium to the American investment fund Warburg Pincus, L’Echo reported, citing informed sources. The Belgian business of the bank is represented by its eight branches. They provide account opening and investment management services, as well as provide loans to individuals and legal entities. The agreement concluded earlier by the Italian bank with the European Commission, involves the sale of the Belgian business and units in France. The agreement allowed the Italian authorities to assist Monte Paschi in the amount of 5 billion 400 million euros.

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