Mediobanca's "light pact" is officially born. On 20 December, the consultation agreement between the shareholders of Piazzetta Cuccia was signed, which from 1 January 2019 will take the place of the old union pact. What, to be clear, also included a Financere du Perguet by Vincent Bolloré who last September first decided to cancel and then not to participate in the new consultation agreement. The same decision also for Pesenti's Italmobiliare which held a 1% stake.
Confirm all eve previews: there are no blocking or voting commitments on the shares contributed. The only obligation is to "not to carry out operations that give rise to takeover bid obligations".
The new agreement will concern a total of 183,8 million Mediobanca shares, a figure which in percentage terms corresponds to the 20,73% of the share capital. The first shareholder of the light pact will be Unicredit, with 40,53% of the total shares contributed and 8,4% of the general capital. The others are instead Banca Mediolanum with 3,28%, Mediolanum Vita with 0,73%, Schematrentatré with 2,10%, Fininvest with 2% Fin.Priv. (of which FCA, Generali, UnipolSai, TIM, Pirelli & C and Italmobiliare are shareholders) with 1,62%. Below 1% we find the Gavio group, the Ferrero group, Angelini Partecipazioni Finanziarie, Sinpar, Mais Partecipazioni Stabili, Finprog Italia, Vittoria Assicurazioni and Romano Minozzi and the Pecci group.
At this juncture it must be emphasized that Fininvest has signed the new consultation agreement 2% stake of the capital of the institute of Piazzetta Cuccia in his possession. In the old deal, the company only had 0,97% stake, keeping the other shares out of the deal. The Pecci group is also rounded up, which in the light pact will have 0,53% of the capital compared to the previous 0,46%.
These upward corrections have brought the total capital combined in the consultation agreement to 20,73%, against the 19,82% previously announced. The agreement will take effect from 1 January 2019, while the deadline for cancellation has been set for September 2021.
In Piazza Affari, the Mediobanca share dropped by 2,12% on a very difficult day for the banks and for the Ftse Mib which dropped by 1,32%.
