Banco Desio buys Popolare di Spoleto. The agreement between the two institutions was signed yesterday and provides for the subscription of a cash capital increase of 139,75 million euros reserved for Banco di Desio e della Brianza, which after the operation will be the owner of a number of ordinary shares of Banca Popolare di Spoleto between 66,8% and 72,2% of the share capital. The final amount will depend on the subscription or otherwise of a second tranche of increase reserved for Banca Umbra employees for a maximum of 15,52 million.
The increase aims at strengthening the capital of Banca Popolare di Spoleto and restoring the solvency ratios and regulatory capital, as well as creating the conditions for the reconstitution of the corporate bodies of Banco Desio's expression bank and for the closure of the administration procedure extraordinary of Banca Popolare di Spoleto.
The agreement leads to the "capital strengthening of Banca Popolare di Spoleto - write the two institutes in a joint note - and to the restoration of the solvency ratios and regulatory capital as well as to create the conditions for the reconstitution of the corporate bodies of the Bank expression of Banco Desio and for the closure of the extraordinary administration procedure of Bps. Following the operation, Banco Desio's supervisory coefficients will in any case remain more than adequate and therefore any hypothesis of Banco Desio's capital increase is excluded”.
The execution of the capital increase is expected within the month of July 2014, while the reconstitution of the corporate bodies of Banca Popolare di Spoleto within the month of September 2014.
By mid-morning, Banco Desio Brianza shares gained 2,8%, to 3,392 euros, while that of Popolare di Spoleto was suspended.
