THEpublic exchange offer (Oops) promoted by Unicredit su Bpm bank got the go-ahead from the Insurance Supervisory Institute (Ivass), thus allowing Piazza Gae Aulenti to acquire control of Bipiemme Life e Edge C.V., the two life insurance companies under the wing of Piazza Meda. Unicredit announced this in a note released yesterday evening.
Not only that: the authorization from Ivass also concerns the acquisition of qualified shareholdings in Banco bpm Insurance e Edge Insurance, operating in the damage branch. It should be noted, however, that the majority of these two companies remain firmly in the hands of Crédit Agricole, with a share of 65%, while Banco holds 35%.
The authorization by Ivass comes after the favorable opinion of other authorities, including the Bank of Italy, the Antitrust and the European Commission. In the meantime, the institute in Piazza Meda has obtained the authorizations to proceed with the takeover bid on Anima Holding through its subsidiary Banco Bpm Vita. Now, the institute is waiting for the approval of the offer document by Consob, which should arrive within a few days.
