The acquisition by Arca Sgr, the primary independent operator in the asset management market, of the entire share capital of Carige Asset Management Sgr (Banca Carige) was completed today at the agreed price of 101 million euro. The operation, explains a joint note, will result in a capital gain of 93 million and a consequent improvement in the ct1 ratio of the Banca Carige Group equal to 40 bps.
Through the transaction, Arca Sgr aggregates all of Carige Sgr's assets amounting to around 4,2 billion euro of assets under management, of which 3,3 billion from 15 mutual funds, as at 30 June 2013. Thanks to the acquisition, Arca Sgr will own network having access to the 677 branches of the Banca Carige Group. Following the acquisition, the shareholders' meeting of Carige Asset Management Sgr was held which appointed the new board of directors of the company.
