In eight in the running for Banca Etruria, Banca Marche, Carichieti, Cariferrara – BBC

There would be eight expressions of interest for the four banks saved – the new Banca Marche, Banca Etruria, CariChieti, CariFerrara – clasped on the table of the president of the bank, Roberto Nicastro, the consultants involved in the transaction and authority for a resolution (at the Bank of Italy) which is handling the sale process, re-opened after the first round of bids proved to be unsatisfactory.

Il President of the “new” four banks, Roberto Nicastro (Imagoeconomica)

This is foreign funds but also of banks, both Italian and foreign. However, it is not said that once the due diligence (verifying the accounts and on bank numbers) all the parties who have expressed interest then move ahead a binding proposal. The schedule is tight: the proposals are expected before the end of next week so he can finish, or at least set to the final stage, the sale of banks by 30 September, the date set by the European Commission for not commencing the aid for sanctions State.

According to reports those that have expressed interest would Bper, Cariparma Crédit-Agricole, BNL-BNP Paribas, Popolare di Bari, Ubi, Apollo, Lone Star, Barents. Ubi could bet on CariFerrara, although the bank led by Victor Massiah denied for the moment an interest; B to evaluated the whole package of the four banks but would look more favorably to Marche and Banca Etruria as well as expand the regional presence, while Popolare di Bari would aim of Carichieti. The fund Apollo, who had already submitted a bid considered insufficient and incorrect, could point to insurance companies of Banca Etruria, that Bap Bap and Life Insurance as well as to strengthen the insurance business after the purchase of Carige Assicurazioni and Carige Vita Nuova in 2014 to 310 million.

August 26, 2016 (modified August 26, 2016 | 16:35)

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