The parent company Mediolanum Spa merges into the subsidiary Banca Mediolanum (of which it holds 100% of the capital), which will be the only stock listed on the Stock Exchange. The operation was approved yesterday by the Boards of the two companies.
"The merger takes place in the context of the rationalization of the structure of the Mediolanum Banking Group following the recent assumption of the role of parent company by the parent company Mediolanum", reads a note specifying.
Banca Mediolanum "will return to carry out the guidance and coordination activities of the banking group", continues the text, specifying that the operation also "follows the objective of shortening the shareholding chain, making organizational and management processes more efficient, at the same time improving the level of profitability and safeguarding the brands and commercial vocation of the Mediolanum Banking Group”.
The merger plan envisages the assignment to Mediolanum shareholders of one Banca Mediolanum ordinary share for each Mediolanum ordinary share. The right of withdrawal is envisaged for the shareholders of Mediolanum spa.
