“Today we complete an operation that sees us all winners: thanks to the decision – of which we are proud – of 90,2% of Ubi Banca's shareholders to join Intesa Sanpaolo, we will create a new reality capable of strengthening the Italian financial system and playing a leading role in the European banking scenario". These are the first words of the CEO of Intesa Sanpaolo, Charles Messina, after the triumph of the takeover bid (public purchase and exchange offer) launched in mid-February on Ubi Banca, which consolidates the Italian leadership of Ca' de Sass and makes it the third European group. The result is beyond forecasts, with 90,2% of adhesions, and, for a handful of titles, will make the launch of the residual tender offer is necessary, which will allow all UBI shareholders to take advantage of the same conditions (indeed, in some ways, better) enjoyed by those who have already delivered the shares to the offeror, who will however have to bear an additional outlay of around 400 million.
Messina underlined the benefits that the takeover bid will generate for shareholders, businesses and households and which will increasingly make Intesa Sanpaolo "a key factor in the competitiveness of the Italian system on the global stage, thus supporting the recovery of employmentespecially the juvenile one". In figures, the new banking group resulting from the merger between Intesa and Ubi Banca, which will take place in the coming months, will count on 100 thousand employees, on an amount of loans of over 450 billion euro, its over €1,1 trillion of savings to manage, its 21 billion in revenues and always very high dividends.
Messina did not fail to recognize the military honors of Ubi Banca and in particular of its CEO Victor Massiah, which for consistency did not deliver its 700 shares to the takeover bid and which he could resign on Monday.
Now another story begins: not only for Intesa Sanpaolo, but for the entire Italian banking system, which is preparing to experience a season of new aggregations.
