Agricole Cariparma will today sign the acquisition of the three banks in central Italy in difficulty. Radiocor learns it. The last step was the formal go-ahead of the Voluntary Scheme of the Interbank Fund which arrived yesterday. Agricole Cariparma, led in Italy by Giampiero Maioli, buys Cassa Cesena, Cassa Rimini and San Miniato cleansed of non-performing loans which will be securitized and recapitalised.
The French Bank disburses 130 million to the Interbank Fund just for Cesena. For San Miniato and Rimini, the Voluntary Scheme will have to recapitalize them each up to 250 million. A first tranche of the recapitalization (50 million) was approved today to allow the two banks to meet the capital ratios at the end of September.
The latest difficulties, resolved in these hours, concerned the subscription of the mezzanine tranche by Atlante2 which needed to be refinanced for approximately 280 million. Among the lenders, news of the last few hours, there would be a surprise absence between Poste Italiane and Cdp accredited, however, in recent weeks among the potential lenders alongside Intesa, UniCredit, Cariparma itself and doBank.
On the other hand, Cdp will give new resources to Atlante2. In solving the crisis of the three small banks in central Italy, the Bank of Italy and the Ministry of the Economy have played a very active role, also to avoid ending up with two new liquidations (The fate of San Miniato and Rimini without recapitalization was sealed) a few months after that of the Veneto banks.
