The merger transaction through absorption of BPER Services S.C.p.A. ("BPER Services" or the "Company to be Merged”) into BPER Banca S.p.A (“BPER Banca” or the “Merging Company”) is effective as of today.
The C.E.O. Alessandro Vandelli remarks: "Thanks to the transaction just closed, our IT and back-middle office services company has been integrated into the Parent Company a few months after the launch of the new 2019-2020 Business Plan - which took place last February - confirming the strong commitment made in implementing rationalization and simplification projects of the Banking Group and governance strengthening. As matter of fact, this transaction has been brought to completion whereas that of modernizing and increasing the efficiency of the distribution network is ongoing (with the reduction of 48 branches out of the 230 in the Plan period, which took place last March). In the meantime, progress is being made in implementing the transactions announced in the last months relating to the acquisition of the minority shares of Banco di Sardegna, as well as acquiring full ownership of Unipol Banca, along with assigning approximately € 1 billion of non-performing loans to UnipolRec, and furthermore increasing the shareholding in Arca Holding."
The Merger Deed is available on the website of the Bank (www.bper.it – Sito Istituzionale) as well as made it available to the general public at the Head Office of the Bank under terms as provided for by the current laws.