The games are still open but for now Civibank is not participating in the takeover bid launched on the Friulian bank by the South Tyrolean Sparkasse. After the announcement of Savings bank, the Cassa di Risparmio di Bolzano, to want to launch a takeover bid voluntary cash on Friulian Civibank and aiming at all the shares and warrants held by those who were shareholders of the former Cividale bank before the last capital increase, the Friulian board of directors put the dots on the "i" without prejudicial closings but without even box openings closed to South Tyroleans.
In fact, Civibank specifies that the dialogue already started between the two institutions in the months preceding the offer "concerned only the development of potential future industrial and/or strategic collaborations with a view to maintaining the independence and autonomy of the two entities, with the goal of mutual reinforcement”.
On the other hand, Sparkasse (leading shareholder of the former Cividale bank with a 17,09% stake) had specified that the objective of the offer is to create the premises "for industrial synergies between the two banks, keeping intact the identity, corporate autonomy and the brand. Sparkasse communicates that the possible permanence in the capital of the bank of subjects interested in participating in the development plans will be positively evaluated”.
The banking risk of the North-East is back in motion, one of the Italian areas in which the presence of a strong local institution has ceased. After Veneto Bank e People of Vicenza, space has been created for a banking institution in the "reference" area. The BCCs have tried to "fill" it with the creation of a federation among the cooperative credit banks of the Cassa Centrale group. But the idea of a reorganization among the local banking institutions of Trivento had already been in the air for months. With the model proposed by the South Tyrolean bank, it could facilitate the aggregation of other subjects.
Il the offer price launched by Sparkasse on Civibank is equal to 6,50 euro per share in cash and by €0,1575 per warrant. The price offered incorporates a premium of 22,64% compared to the quotations for the period between 15 October 2021 and 3 December 2021 on Hi-Mtf - the exchange where both securities are listed - and of 21,02% compared to the average of the last 12 months.
