The consortium formed by Advent International (under the direction of the former CEO of Telecom Franco Bernabè), Bain Capital and Clessidra by Claudio Sposito signed a binding agreement for the purchase of the central institute of Italian popular banks (ICBPI) for a consideration of 2,15 billion euros. After the operation, the selling shareholders of ICBPI will maintain a stake in the company of around 8%, explains a note.
Icbpi is leader in Italy in financial services with a strong positioning in the e-money and payment services sector. Has more than 1.900 employees and operates through established brands including CartaSì. In 2014 it recorded a turnover of 670 million, an Ebitda of 195 million and a net profit of 95 million.
The members of ICBPI are Credito Valtellinese, Banco Popolare, Popolare Vicenza, Veneto Banca, Popolare Emilia Romagna, Iccrea Holding, Popolare Cividale, UBI Banca, Popolare Milano, Banca Carige and Banca Sella.
