La Carige Foundation has signed a preliminary contract for the sale of a 10,5% stake in Banca Carige of the share capital in favor of Malacalza Investimenti srl, a company wholly owned by the Malacalza family. The sale price of the unit is slightly higher than 66 million euro (equal to 0,062 euro per share). Malacalza will thus become the first shareholder of Carige, followed by the French of the Banques populaires et des Caisses d'epargne.
The agreement with Malacalza will be submitted to the authorizations of Bank of Italy and the Ministry of the Economy. The transaction, in consideration of the authorization process, is expected to be finalized at the beginning of the next quarter.
The president of Malacalza Investimenti, Vittorio Malacalza, described the various stages of the negotiation in a note released yesterday evening: "My sons, Davide and Mattia, and I, were contacted by the Carige Foundation to evaluate the potential entry into the capital of Banca Carige. After careful evaluations, we believed that in this phase of the life of the Institute and of the Foundation, the commitment of a Genoese entrepreneurial reality that believes in the development prospects of the local and Italian economy could not be lacking”.
"Although aware of the uncertainties of the economic scenario - concluded Malacalza - we therefore decided to invest to support Banca Carige by making available, in addition to capital, our wealth of entrepreneurial knowledge, with the aim of strengthening the traditional role of the bank in support of the economic development of the reference territory”.
