Pamplona PE increases UniCredit stake to 5%

Private equity firm Pamplona Capital Management, has increased its stake in Italy’s biggest bank UniCredit to 5%, becoming the second-biggest shareholder of the bank after Aabar Investments.

The investment was completed by Pamplona’s Global Financial Institutions €1bn fund.

The company already held 1.99% of the Italian bank and the 5% stake has a market valuation of about €700m.

Aabar Investments, the Abu Dhabi sovereign wealth fund, owns 6.5%, the Central Bank of Libya has a 4.99% stake and two Italian banking foundations own less than 4% each.

Pamplona was founded by Alex Knaster in 2005 and has three funds managed by 12 professionals, according to the company website.

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