03/09/2007
14.34 p.m
Sale of entire shareholding in Gamax Broker Pool AG
Mediolanum S.p.A. announces that today Gamax Holding sold its whole shareholding in Gamax Broker Pool AG, Munich, to Consal Makler Service GmbH, a company of the Consal Beteiligungsgesellschaft AG, for a consideration of €1,400,000.
Gamax Holding is controlled by Banca Mediolanum, a Mediolanum S.p.A. subsidiary.
The agreements in force between Gamax Broker Pool and Gamax Asset Management SA, Luxembourg, for the distribution of the investment funds of the latter are confirmed and will continue to operate in the future.
Gamax Asset Management SA, Luxembourg, will continue to be part of the Mediolanum Group.
Following the transaction, subject to regulatory approvals, the 2,000 Independent Financial Advisors (IFA) who distribute Gamax funds under an agreement with Gamax Broker Pool will have the opportunity to continue to distribute Gamax funds and, at the same time, enter into an agreement that will allow them to work with a prestigious insurance group like Consal Beteiligungsgesellschaft AG.
Mediolanum will continue to be directly present in Germany through its subsidiary Bankhaus August Lenz, Munich, which replicates the business model of Banca Mediolanum in Italy and Spain.
Milan - March 09, 2007
