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Obtained the necessary approvals from the competent Authorities “Banca popolare dell’Emilia Romagna Soc. Coop.” (“BPER”) and “Fondazione Cassa di Risparmio di Bra” (the “Fondazione”), today implemented the “Share purchase/sale agreement” signed on 20th September 2012 regarding the sale of 35.98% of Cassa di Risparmio di Bra (the “Cassa”) by the Fondazione to BPER, for a total amount of around Euro 23.9 million.
As a result, BPER now has a 67.00% controlling interest in the share capital of the Cassa (the pre-deal stake was 31.02%).
As soon as possible, BPER and the Fondazione will strengthen the capital base of the Cassa by subscribing a capital increase on a pro-rata basis, in order to boost its growth and expansion in the Piedmont Region.