EFG International, a private Zurich-based bank, said it is to acquire Monaco-based private bank Banque Monegasque de Gestion from UniCredit Private Banking SpA, a subsidiary of UniCredito Italiano SpA.

The deal is expected to close in late summer, subject to regulatory approval.

Banque Monegasque de Gestion (BMG), a private bank founded in 1985 with a focus on wealth management and private banking services has some 35 staff, and client assets under management of approximately 1.3 bln sfr.

Find out more about UniCredito Italiano selling Banque Monegasque de Gestion at http://www.forbes.com/business/feeds/afx/2006/05/19/afx2758712.html.