(Alliance News) - Banca Profilo Spa commented Wednesday evening on rumors published by some press outlets regarding the sale of Arepo BP Spa's stake held in Banca Profilo's share capital.

Arepo BP, the bank's controlling shareholder and parent company of the Banca Profilo group, confirmed that "exclusive negotiations are currently underway, the outcome of which will be promptly communicated to the market when all conditions are met," the statement read.

The announcement was issued at the request of the Supervisory Authority.

Banca Profilo closed Wednesday in the green by 2.9 percent at EUR0.21 per share.

By Chiara Bruschi, Alliance News reporter

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