Following the success of Banca Ifis' takeover bid for Illimity, which concluded with over 92% of the subscribers and a 5% premium for all the subscribers, the the official steps for integration between the two realities. Monday, July 21st the board of directors of the company founded by Corrado Passera has resigned to facilitate the merger with the bank chaired by Ernesto Fürstenberg Fassio. The resignation will be effective upon the renewal of the corporate bodies, which will be approved by the shareholders' meeting.
Illimity's statement: Shareholders' meeting called for September 25, 2025
“Illimity Bank SpA (“illimity”) announces that the board of directors, which met today, has acknowledged that all directors, including the members of the Management Control Committee, have resigned their mandate available to the parent company Banca Ifis SpA, in order to facilitate a rapid and orderly integration process between the two entities, submitting his resignation with effect from the renewal of the corporate bodies, which will be approved by the next Shareholders' Meeting".
The ordinary and extraordinary meeting was convened for the next September 25. In addition to deliberating on the renewal of the corporate bodies, the members will also have to decide on the statutory changes connected to the entry of Illimity into the Banca Ifis group and on delisted, communicated last July 16 by the institute specialized in NPLs.
“With reference to Councillor Filippo Annunziata, the resignation will be effective from 31 August, taking into account the application of the legislation regarding the so-called “interlocking” pursuant to art. 36 of Legislative Decree no. 201/2011 for the positions recently assumed by the exponent”, continues the note which also recalls that, starting from 4 July, “illimity is a company controlled by Banca Ifis SpA”.
The success of the offer
Banca Ifis's offer began on May 19 and closed on June 27. with 84,09% of the voter turnoutAt that point, the Veneto-based institution decided to up the ante, announcing a five-day extension of the terms, from July 5th to 7th, with the aim of exceeding 11% of the capital of the challenger bank founded by Corrado Passera. No sooner said than done. At the conclusion of the takeover bid, Banca Ifis has reached 92,5% of Illimity's capital., threshold that triggered the 5% bonusThe Mestre bank therefore paid 0,1775 euros for each share granted, added to the 1,414 euros paid in cash plus 0,1 newly issued Banca Ifis shares. Having exceeded the 90% threshold, Banca Ifis will also be able to proceed with the delisting of Illimity.
