Carige closes the door to Apollo. Yesterday evening, the Ligurian bank's board of directors resolved that "even independently of any assessment of the merits of Apollo's non-binding proposal, the conditions for its concrete practicability do not exist, due to the non-binding nature of the proposal and the provision in the of the exclusive concession in favor of the Apollo fund".
The decision was communicated by the institution itself which, after assessing the conditions set by the US fund, ruled that they would result in "the foreclosure for Carige of the indispensable pursuit of any competitive confrontation between the proposal and the market and the elaboration of other solutions to the problems relating to non-performing loans, as well as the verification of the opportunities that are emerging following the recent initiatives of the Government".
The board chaired by Giuseppe Tesauro also announced that "In this regard, the constraint imposed by the inseparability of the proposal relating to the purchase of the non-performing portfolio with an increase largely reserved capital". Carige, "as part of the initiatives that he will take with regard to the solution of the aforementioned problems", has however "expressed his willingness to possibly also deal with the Apollo Fund".
