Banca IFIS announces that, with reference to the acquisition of GE Capital Interbanca SpA announced on 28 July last, and following the authorizations issued by the Supervisory Authorities (Bank of Italy and European Central Bank) on 29 November 2016, the acquisition of GE Capital Interbanca was completed today.
“We have identified – he comments Giovanni Bossi, CEO of the Banca IFIS Group – in the union of the forces of two highly capitalized Groups and in their respective competences, the right platform to become the reference point for finance for small Italian companies”. “Today's – said the president Sebastien Egon Fürstenberg instead – constitutes another stage of our journey – an important step, not the arrival point – which from today continues with new skills, new people, new challenges. In one direction only”.
The object of the transaction is 99,99% of GE Capital Interbanca SpA including the related companies active in factoring, leasing (financial and operational) and lending; the price paid is 160 million euros subject to an adjustment mechanism to be calculated on the basis of a balance sheet at the execution date; full repayment is envisaged by GE Capital Interbanca and its subsidiaries of the debt to the GE Capital holding company which amounts to approximately 2,1 billion euro.
