Deals
UniCredit Said to Sell Up to $1.1 Billion of HVB Properties
- Italian bank signaled asset sales after writedown last month
- UniCredit said to work with Cushman and Wakefield on the sale
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UniCredit SpA is seeking to sell as much as 1 billion euros ($1.1 billion) of German real-estate assets as part of a plan to boost capital, people with knowledge of the matter said.
The Italian bank is working with real estate company Cushman & Wakefield on the sale of office buildings and bank branches belonging to its HypoVereinsbank unit, the people said, asking not to be identified as the process is private. The sale involves about 30 assets and formally begins next month, they said.