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The transaction is expected to be closed by the end of 2010, subject to the required corporate and regulatory authorisations. The unit being transferred includes approximately 10.000 clients and the related employees and it represents around 22% of customers’ financial assets. Following the above mentioned transaction, UniCredit Luxembourg will maintain its current operations in other areas such as corporate banking, investment banking and treasury and it will focus its Private Banking activities in Luxembourg on Wealth management for high net worth and ultra high net worth segments, as well as on providing specialized services to the UniCredit Group in areas like Asset management for life insurance policies. The transferred clients will continue to benefit from high quality of services...
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