UniCredit recently finalized its sale of a 32.8 percent shareholding in Bank Pekao S.A., which went to Powszechny Zakład Ubezpieczeń S.A. and Polski Fundusz Rozwoju S.A. for a total sum of $2.8 billion, according to a UniCredit release.

The transaction was announced in December, and the terms and conditions of the deal did not change in the intervening time. The total sale value corresponds to $32.81 per share, and provides capital that benefits UniCredit Group’s common equity tier 1 ratio, which is now fully loaded of approximately 70bps.

The transaction was conducted with financial advisory services from Morgan Stanley, UBS Investment Bank and UniCredit Corporate & Investment Banking, as well as legal advice from Weil, Gotshal & Manges.