Putin Approves UniCredit Russia Unit Sale
Russian President Vladimir Putin approved the reorganisation and sale of UniCredit's Russian subsidiary. The bank plans to split its operations and sell the non-payment assets to a UAE buyer.
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UNICREDIT SPA received presidential approval on Monday morning from Russia to restructure and sell its local banking unit. The Italian lender is navigating strict Kremlin exit rules that target assets owned by investors from nations deemed unfriendly. The deal allows UniCredit to divest the bulk of its Russian operations to a buyer in the United Arab Emirates while retaining its payments business.
