Italian bank Intesa Sanpaolo has increased the number of branches and amount of assets it will sell to rival BPER if its proposed takeover of UBI Banca goes through in an effort to overcome antitrust objections to the deal.
FILE PHOTO: Intesa San Paolo bank headquaters is seen in Turin, Italy, November 7, 2018. REUTERS/Stefano Rellandini
BPER would in this way acquire an additional 4.5 billion euros in assets from Intesa-UBI, adding a total of 26 billion euros in net client loans through the deal and lowering its impaired loan ratio to 8.4% of total lending. BPER said it would pay the lowest amount between a sum equivalent to 0.55 times the core capital of the business it was buying and a value corresponding to 0.78 times the implied multiple paid by Intesa for UBI’s core capital.
Following the preliminary findings from the Italian antitrust authority’s review of the deal, Intesa has been racing to submit stepped-up remedies by a deadline set at 0800 GMT on Monday.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Italian bank BPER to hold board meeting on revised Intesa deal - sourceItalian bank BPER Banca will hold a board meeting later on Sunday to approve a revised deal with Intesa Sanpaolo that addresses antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.
Weiterlesen »
Italian bank BPER approves revised Intesa deal: sourceItalian lender BPER Banca on Sunday approved a revised deal with Intesa Sanpaolo to address antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.
Weiterlesen »
Italian bank BPER approves revised Intesa deal: sourceItalian lender BPER Banca on Sunday approved a revised deal with Intesa Sanpaolo to address antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.
Weiterlesen »
Italian bank BPER to hold board meeting on revised Intesa deal - sourceItalian bank BPER Banca will hold a board meeting later on Sunday to approve a revised deal with Intesa Sanpaolo that addresses antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.
Weiterlesen »
'The Art Of Her Deal' Aims To Show Melania Trump As An Influential CollaboratorIn a new, scrupulously reported biography, reporter Mary Jordan writes that Melania Trump used the fact that her husband needed her public loyalty after he was accused of infidelity and assault to negotiate a better prenup.
Weiterlesen »
Congressman Fails to Win Renomination in VirginiaConservatives turned against Rep. Denver Riggleman, a first-term Republican congressman from Virginia who in 2019 officiated a same-sex wedding for two campaign volunteers
Weiterlesen »