The Competition and Market Authority (Agcm) gave the green light, on Monday 10 March, topublic purchase and exchange offer (Opas) of Bank Ifis su unlimited Bank. No restrictions from the Authority, which approved the operation without conditions o restrizioni.
Banca Ifis, led by the Fürstenberg family, declared: “The antitrust condition of effectiveness of the offer must be considered satisfied”.
Opas on Illimity: the offer on the table
Launched on January 8, theBanca Ifis takeover bid provides for a consideration of 3,55 euros per illimity share, divided into 0,10 newly issued Banca Ifis shares and 1,414 euros in cash, for a total value of the transaction of 298,49 million euros. The premium on the offer is 5,8%. The transaction is aimed at integrating illimity and delisting it from the Star segment of Piazza Affari. For every 10 shares granted, shareholders will receive 1 new ordinary Banca Ifis share and a check for 14,14 euros.
Meanwhile, a Business Square il title Banca Ifis loses 0,094%, falling to 21,24 euros, while unlimited is down 0,92%, at 3,44 euros per share.
Illimity and the “account to be redone”
In the meantime, illimity has had to rework its 2024 budget numbers due to an old securitized credit, written down for legal reasons. The review led to a correction of 53,5 million euros, with a consolidated result at 31 December 2024 that stops at 316 thousand euros (gross of the impairments already communicated) and a net loss of 38,4 million euros. The Cet1 settles at 13,9%, while the total capital ratio reaches 17,8%.
