Sell in bulk or sell in pieces? The future of the four good banks (Banca Etruria, Banca delle Marche, Cariferrara and Carichieti) should be known shortly, based on the size of the offers. For now, eight expressions of interest have already arrived but binding offers are expected by the end of the month to comply with the absurd diktat of the ECB to sell by the end of September.
The Bank of Italy together with the president of the four banks, Roberto Nicastro, who led the recovery and relaunch, will sell at best after rejecting the initial offer of international funds because it was too low. Selling in bulk or selling in pieces will therefore depend on the quality of the offers.
For the good banks there are currently eight suitors between Italian banks and international funds.
In the field there is first of all the Bper which aims at the Banca dell'Etruria and, secondly, at the Banca delle Marche. Then there are Ubi and Cariparma which are looking to Carife, then Banca Popolare di Bari which has Carichieti in its sights to strengthen its presence in Abruzzo where it is already present with Tercas. Complete the list of Bnl-Paribas bank suitors.
Lastly, three international funds (Apollo, Lone Star and Barents, with Apax in a more secluded position) have returned to the fray for the good banks which, after having their first offer rejected because it was deemed too low, do not let go and aim to buy the 4 banks en bloc.
