This triggered an impairment charge of EUR 257 million in the first quarter. The transaction is expected to close in the fourth quarter of 2012, at which time there will be Core Tier 1 capital accretion of approximately EUR 290 million.
Overall, it will have a net positive impact on the Group's Core Tier 1 capital ratio of approximately 6 basis points in 2012. This further demonstrates the Group's commitment to reducing non-core legacy positions and associated risk in a capital efficient manner.
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