Prospectus - Notowania

means of the formation of Pioneer Investment Management LLC, operating in the area
of domestic fund management and individual portfolio management activities.
Again with reference to expansion in Eastern Europe, in November 2007 the Group
acquired, via BA, an equity investment of 91.8% (subsequently increased to 99.70%
of the share capital) in ATF, the fifth leading Kazakh bank in terms of total assets and
in January 2008 acquired, via BA, 94.2% (then increased to 95.34%) of JSCB
Ukrsotsbank, the fourth leading Ukraine bank in terms of total assets.
Furthermore, in order to reorganize, concentrate and develop the activities in the
investment banking segment in Turkey, during August 2008 the subsidiary KFS
acquired control over the brokerage company San Menkul Değerler A.Ş., which was
transferred the activities with institutional customers currently followed by Yapi Kredi
Yatirim Menkul Degerler A.S. and some of the activities carried out in Turkey by
HVB and BA.
Other transactions carried out by the Group concerned the acquisition on the market,
by UniCredit, of an equity investment equating to around 4% in Banco de Sabadell
S.A., in May 2007, subsequently disposed of in the last quarter of 2009 for a total of
around €217 million, as well as the purchase, by PGAM, of an equity investment of
51% in the share capital of BOB Asset Management Company Ltd (now Baroda
Pioneer Asset Management Company Ltd), a company operating in India.
In April 2009, with the aim of developing the activities for the management of the
closed-end property funds of Pioneer I.M. SGR – a wholly-owned subsidiary of
PGAM – it acquired a shareholding of 37.5% in Torre SGR S.p.A. (a property fund
management company attributable to Fortress Investment Group LLC, in turn an
alternative management company listed on the New York Stock Exchange) as part of
the capital increase of the afore-mentioned company reserved for Pioneer I.M. SGR
and subscribed by the latter by means of conferral of its “property funds” business
segment.
Moreover, on a consistent basis with the objectives for rationalizing the Group’s
property assets, on December 30, 2008, UniCredit Real Estate took steps to contribute
a portfolio of 72 properties for a total contribution value of around €799 million held
by the Group to a closed-end property fund reserved for qualified investors, known as
Fondo Omicron Plus Immobiliare (“Omicron Plus Fund”) managed by Fimit. The
majority of the units issued in relation to this contribution were at the same time
disposed of by UniCredit Real Estate to qualified investors identified by Fimit, while
the remaining part of the units were disposed of during 2009. The properties
contributed have all been leased to the Group under lease agreements with a duration
of 18 years, renewable for a further 6 years, with characteristics which permit the
Group the necessary flexibility in the management of its sales network.
At the end of September 2009, UniCredit Real also transferred a portfolio of 13 listed
properties for a total contribution value of around €574 million held by the Group to a
closed-end property fund reserved for qualified investors, known as Core Nord Ovest
(“Core Nord Ovest Fund”) managed by REAM SGR S.p.A. (“REAM”). UniCredit
- 98 -