Banca Intermobiliare collapses on the stock market after the announcement of the terms of the sale of its majority stake by Veneto Banca to Trinity Investments Designated Activity Company.
A few minutes after the closure of Piazza Affari, the share of the private bank remaining in the hands of Montebelluna after the transfer to Intesa Sanpaolo is stuck in the volatility auction, marking a theoretical drop of -37,56% to 0,61 euros.
Based on what was announced by Veneto Banca, currently in liquidation, the operation concerns 71,41% of the share capital. Payment of the agreed price will be paid through an initial unit price of 0,22411 at closing and a possible deferred price (earn out) payable in 2022.
After the closing, which will have to receive the OK from the competent authorities, the buyer will be required to launch a mandatory takeover bid on Bim shares under the same conditions. The difficulty in estimating what the sale price could be inevitably weighs on the course of the stock, which entered the volatility auction several times during the session.
