Atlante to take max 1.5 bn in Pop Vicenza-UniCredit (3)

(ANSA) - Milan, April 20 - UniCredit said Wednesday that new Italian bank fund Atlante will buy a maximum of 1.5 billion euros' worth of unsold shares in Banca Popolare di Vicenza's upcoming capital increase. UniCredit is underwriting the cash call. "Quaestio, in the name, on behalf and in the interest of the Fund Atlante, which is currently in the process of being established, has undertaken vis-à-vis UniCredit to subscribe the newly issued shares arising from the capital increase approved by Banca Popolare di Vicenza S.p.A. remaining un-subscribed in the context of the proposed offering of BPVi shares aimed to the listing, in the event that UniCredit shall be required to subscribe them pursuant to the underwriting undertakings with BPVi up to the maximum amount of Euro 1,500 million," UniCredit said. In a separate statement, BPVi said that Atlante had agreed to pick up unsubscribed shares "at a price not higher than the minimum of the price range for the shares set by the Bank's Board of Directors", that is 0.10 euros per share.
    UniCredit CEO Federico Ghizzoni said he was upbeat about the capital increase.
    "I'm highly confident that the operation will be successful," he said.