BPER Banca Is Open to Talks With Carige's Owner About Acquisition
December 22 2021 - 3:34AM
Dow Jones News
By Cristina Roca
BPER Banca SpA is willing to hold talks with Banca Carige SpA's
owner about taking over the troubled lender, it said late on
Tuesday.
The Italian bank last week submitted a nonbinding offer to buy
Carige, which was bailed out by Italy's deposit-guarantee fund,
FITD, in 2019. The FITD responded on Thursday that the size of the
recapitalization of Carige included in the offer terms didn't
comply with its statutory provisions, but signaled it was open to
negotiating.
BPER said Tuesday that it reiterated to the FITD "its
willingness to provide the clarification requested and carry out
the deepdive analysis deemed necessary, as well as to jointly
verify the assumptions underlying the offer." It called again for
an exclusivity period to be agreed on for the negotiations.
On Dec. 14, BPER offered to buy 88.3% of Carige held by the FITD
and Cassa Centrale Banca for 1 euro ($1.13). Per the terms of the
offer, Carige would first get a EUR1 billion capital injection from
the FITD to help cover integration costs and clean up its loan
books. BPER said its offer would expire if it wasn't granted an
exclusivity period by Dec. 20.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
December 22, 2021 03:19 ET (08:19 GMT)
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