Preliminary agreement for an integration plan between Banca di Roma and Bipop-Carire

The boards of directors of Banca di Roma SpA (BdR) and of Bipop-Carire SpA (Bipop-Carire) have approved the exchange of a letter of intent according to which BdR and Bipop-Carire will proceed to negotiate, on an exclusive basis, all industrial, legal and economic terms of an integration plan, which should be completed within the month of May 2002. The aim of the agreement is to create a leading integrated banking and financial group in Italy. The group will be composed of two listed banks Holding BdR and Bipop post-deal (“Consumer Bankâ€). BdR will remain as it is today and keep its banking licence, while becoming a holding company. BdR will own, also through a sub-holding, the retail banks focusing on traditional banking business: BdR, Banco di Sicilia and Bipop-Carire. Bipop will also maintain its banking licence and will focus on asset gathering and specialized lending through a multi-channel distribution strategy (financial advisors, specialized financial shops and direct banking) in Italy and abroad. The Consumer Bank will be part of the Bancaroma Group. The retail bank will keep the brand Bipop-Carire and will concentrate its traditional banking activities with branches and assets, now owned by BdR, or by other companies of the same group. Holding BdR’s stake in Consumer Bank will be set after the definition of the exchange ratios.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Consumer
• Industrials