Banca IFIS has completed the acquisition of the majority stake in Credifarma.
“Following the completion of the preliminary investigation by the Bank of Italy and the related authorization issued on 23 May” the institution led by Giovanni Bossi has increased to 70% of the capital of Credifarma. The remaining 30% remained in the hands of Federfarma with which, Banca IFIS reports, "the institution signed a partnerships multi-year strategy in order to promote the role of Credifarma in favor of Federfarma members and the national pharmacy market".
"As a bank dedicated to businesses and specialized in financing supply chains, we have identified the joining of forces between the already consolidated Pharmacy division of Banca IFIS and Credifarma as a unique opportunity for the benefit of the Italian pharmacy sector" said Alberto Staccione, general manager of Banca IFIS. “We are already working hard to ensure that Credifarma can be the reference point for specialized finance for Italian pharmacies”.
The transaction was finalized through the acquisition by Banca IFIS of all the shares held by Unicredit and by BNL - BNP Paribas Group, equal overall to 32,5% of the share capital of Credifarma, followed by the acquisition of a part of the current stake held by Federfarma for 21,5% of the share capital. Lastly, the institute completed a capital increase reserved for Banca IFIS aimed at providing Credifarma with a solid capital base for regulatory purposes and for future development plans.
The transaction involves a total investment – including the capital increase – of approximately 8,8 million euro.
