GENERAL MEETING DRAFT - Bankier.pl

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Below we supply details of the main disinvestments made in the year. More information of their impact on
profit and loss may be found in Part C of the Notes to the Accounts.
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In November 2008, UniCredit, together with other minority shareholders of Finaosta, agreed to the
proposal of the Valle d’Aosta Autonomous Region to purchase the stakes held by other shareholders of
the above company.
The price for 100% of Finaosta was set at €187 million, and the sale of the stake held by UniCredit
(10.7%) resulted in a consolidated capital gain of €9.7 million. The sale was completed in March 2009.
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UniCredit together with the major shareholders of Si Holding, including Intesa Sanpaolo (42.2% of the
capital) and MPS (24.5%), completed the sale of its equity stake in Si Holding (totaling 9.2%) to Istituto
Centrale delle Banche Popolari Italiani (for 9.1%) and Banca Mediolanum (for 0.1%) for a total price of
€184 million for 100% of Si Holding.
The transaction resulted in a consolidated capital gain of €15 million.
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Last June, the Group sold 33.684% of CARICESE (of its entire holding of 33.687%) for proceeds of
€3.7 million and a capital gain of €1.2 million; in particular the subsidiaries UniCredit Corporate Banking,
UniCredit Private Banking, UniCredit Banca, Banco di Sicilia, UniCredit Banca di Roma, FinecoBanK,
UCFin and Banca Agricola Commerciale RSM sold their stakes in the company, while the parent
company remained a shareholder of CARICESE with a stake of 0.003%.
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In June, UniCredit Bank AG sold 72.25% of BodeHewitt AG & Co. KG and 72.25% of BodeHewitt
Beteiligungs AG to Hewitt Associates, which already held 27.75% of the two companies, for the price of
€50 million. The sale of the stakes held by UniCredit Bank AG resulted in a consolidated capital gain of
€3 million.
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In May, UniCredit Bank AG and Ergo Group signed an agreement to sell their respective 70% and 30%
stakes in Vereinsbank Victoria Bauspar to Wüstenrot & Württembergische AG, for a total price of
approximately €79 million for 100% of Vereinsbank Victoria Bauspar. Following the classification of the
equity investments under assets held for sale, a capital loss of approximately €12 million was recognized
in the first half of the year. The sale, which was completed in July, did not have any further impact on the
income statement.
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