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This article was published on 6 March 2016 at 10:00.
the last change is the March 6, 2016 at 10:02.
Under observation of the ECB, the Consob and time in the viewfinder of the Prosecutor. Yet, despite this, the People’s Vicenza, accomplice also a past built on the mechanisms of crony capitalism, remains an important hub of the Venetian financial crossroads: from credit to insurance, from infrastructure to the fairs.
Until recently it has been a fundamental element for equity balances of Save, the airport of Venice (and Verona). A balance being challenged by the sudden rise of Amber, a couple of years ago. A presence to which they did, however, matched by actions in the bank’s portfolio, has always sided with the historical shareholder led by Enrico Marchi. That package, the 8.75% acquired in autumn 2013, was decommissioned in December last year, with a gain of 16 million. To buy it was just Finint, financial Marks, who has strengthened his grip on Save, which now controls 59.6%: the handover is harmony between the partners once materialized found.
And the greater harmony hunting they are also shareholders of the Vicenza Fair. The (former) Popular has a marginal share in the entity’s capital, to below 1%, but it is one of the main creditors of total exposure in 2014 of just under 40 million (revenues that year were 31.2 million and EBITDA of 5.2 million). In 2015 he tried his marriage to the Fiera di Verona, but the wedding is then jump because the Scala company has abandoned the project. Now it seems back the topical Stock Exchange floor, and sponsoring it, among others, is the current president, Matteo Marzotto, whose mandate, however, will expire with the approval of the budget 2015.
Marzotto, along with Amenduni family, is one of the oldest members of the institute. As well as between the shareholders also included Catholic. The share is marginal, has about 1% of the People as a result of an investment of just under 60 million in the share capital increase subscribed and the shares purchased. Likewise the bank is a member of the insurance group with a stake, however, very significant: 15%. Recently the Commission that monitors the markets has lit a beacon on the relationship between the bank and the company. The Vegas men have asked account the value at which the share is stated as: 388 million euro, just under 15 Euros as against 6.4 euro which is currently the company. The bank has so far refrained from adjusting the value justifying its decision with strategic investment. On the other hand, the package allows the institute to express the vice president and a mayor. Not only that, the Catholic also expected that the company is administered by a board composed of eighteen members, of which up to six residents of the province of Verona, two residents of the province of Vicenza and the remaining residents elsewhere. In short, the link between the two is certainly strong. Enough to warrant such a high initial purchase price? You will see what will the regulators. Certainly, it will in any case important to understand how it will move the company on the occasion of the maxi recapitalization of Vicenza.
A passing, this, key to understanding who and what it is willing to put on the table in the reorganization of finance Northeastern: the great Venetian families, already exposed on the bank, you may follow the rise if only to protect the investment made in previous years, with the listing is expected to be almost entirely deleted. But everything will depend on the conditions, starting from the price, which will be offered increased from 1.75 billion: in recent weeks the contacts between the bank’s management and the historical shareholders (as someone new, such as the former Eni Paolo Scaroni) there were a few open too, but the accounts you will do later.
In contrast, UniCredit will intervene. Which it is the guarantor of the increase and in Veneto has deep roots. Of which it is a living witness CariVerona Foundation, which UniCredit is the first Italian partner with 3.5% but aims to diversify. Where? Perhaps even in Popolare di Vicenza, as in the Vicenza it extends the “jurisdiction” entity chaired until recently by Paolo Biasi and from 12 February by Alessandro Mazzucco: ‘The Foundation Cariverona continues to follow closely all possible developments in the turnaround undertaken by Banca Popolare di Vicenza, “reaffirmed the right body the day before yesterday. Here, too, it is a matter of conditions: if they are considered interesting, the Foundation may be in the front row at the next increase in Vicenza going to cover up to 100 million euro. And that move may be preparatory to a subsequent agreement right on the share that the bank holds in Cattolica with the entrance of the Foundation between the main shareholders.
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