--UniCredit SpA is seeking to sell its German leasing operations and WealthCap, a Munich-based real estate investment subsidiary, Reuters reports citing two sources familiar with the matter.

--The Italian bank's leasing business in Germany has an equity value of around 500 million euros ($585.4 million), the news outlet says, citing one of the sources, while WealthCap's enterprise value is estimated at EUR150 million to EUR200 million, according to Reuters.

--The decision comes amid a restructuring where assets are shed in order to bolster financial strength and clean up the balance sheet, the news outlet says.

 

Full story: https://reut.rs/3iYJFc4

 

Write to Barcelona editors at barcelonaeditors@dowjones.com

 

(END) Dow Jones Newswires

September 23, 2020 04:06 ET (08:06 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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