Ex UniCredit CEO buys Italian broker Equita from JC Flowers

July 29, 2015 4:00 PM

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MILAN, July 29 Veteran Italian banker Alessandro Profumo and other investors have signed a deal with U.S. private equity firm JC Flowers to buy a majority stake in Italian broker Equita SIM.

Profumo, who will step down next week as chairman of Monte dei Paschi di Siena and previously headed top Italian bank UniCredit, will create an investment vehicle together with Equita managers to take over Equita.

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