Posted on Dec 15, 2019 2021 at 13:19Updated Dec 15, 2019 2021 at 17:12
1 euro to save the last Italian bank in serious difficulty and create an embryo of a third banking pole. This is the offer from BPER Banca to take over Carige on the model of the rescue in 2017 of the two Venetian banks, Veneto Banca and Popolare di Vicenza, by Intesa Sanpaolo. Presented Tuesday evening, the non-binding offer is made to the deposit guarantee fund of Italian banks (FIDT), the main shareholder of Carige which holds 88% of its capital after having bailed it out in 2019.
It first provides for the recapitalization of the Genoese bank in the amount of 1 billion euros by the FIDT before the launch of a takeover bid on the 12% of the remaining capital at the price of 0.80 euros per share, which represents a premium of 29% from Monday’s closing price. A prospect of a merger which made the price of the two credit institutes jump by about 8%.