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Back Completed acquisition from the Intesa Sanpaolo Group of the banking business complex consisting of 486 Branches and 134 Operational Units
Completed acquisition from the Intesa Sanpaolo Group of the banking business complex consisting of 486 Branches and 134 Operational Units
BPER Banca would like to announce that final contracts were signed today for the purchase from the Intesa Sanpaolo Group of a series of banking assets 1 split into three business units consisting of 486 Branches and 134 Operational Units 2 . The geographical distribution of the branches and operational units shows a high concentration in Northern Italy, particularly in Lombardy.
The contracts signed with the Intesa Sanpaolo Group pursuant to art. 58 of the Consolidated Banking Law concern the legal relationships, assets and liabilities of a UBI Banca business unit 3 (consisting of 455 bank branches and 132 operational units), a business unit of the Intesa Sanpaolo Group (consisting of 31 bank branches and 2 operational units) and a business unit of UBISS (consortium company controlled by UBI Banca), which focuses essentially on providing services to the branches involved in the acquisition.
The transfer to BPER Banca of the business units of UBI Banca and UBISS will take effect for legal purposes on Monday 22 February, while the transfer of the Intesa Sanpaolo Group business unit will take effect on 21 June 2021.
The total consideration paid to the Intesa Sanpaolo Group for the series of banking assets including the three business units acquired is approximately € 644.0 4 million, of which € 23.5 million relating to the business unit belonging to Intesa Sanpaolo will be paid on the day that the transfer takes effect. The Common Equity Tier 1 of the business unit is equal to € 1,611.0 million.
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