03:16 AM EDT, 05/07/2026 (MT Newswires) -- Italian lender UniCredit (UCG.MI) said Thursday it plans to partially divest its Russian unit, AO Bank, to a private investor in the United Arab Emirates.

The nonbinding term-sheet agreement is expected to be concluded in the first half of 2027, subject to a binding deal, a spinoff of part of AO Bank's operations into a new separate unit, and regulatory approvals.

The lender intends to sell the remaining activities of AO Bank to the UAE-based investor in the future.

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