• Published on 21 June 2017
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Intesa Sanpaolo announces it is available to acquire certain assets and liabilities of Banca Popolare Di Vicenza and Veneto Banca under specific conditions

The Intesa Sanpaolo Board of Directors approved unanimously the availability for purchase of certain assets and liabilities and certain relationships pertaining to Banca Popolare di Vicenza and Veneto Banca, provided on terms and conditions that guarantee, even on the plane legal and regulatory, the total neutrality of the transaction with respect to the Common Equity Tier 1 ratio and the dividend policy of the Intesa Sanpaolo Group. The availability of Intesa Sanpaolo operation thereby excludes capital increases.

The availability of Intesa Sanpaolo regards the acquisition of a segregated perimeter which excludes the impaired loans (doubtful, likely defaults and past due), performing loans at high risk and subordinated bonds issued, as well as investments and other legal relationships considered non-functional acquisition.

In particular, Intesa Sanpaolo considers necessary for the conclusion and the transaction was actually a legislative framework, approved and final, which, among other things, ensuring the necessary measures to achieve the objectives of the total amount of neutrality with regard to the Common Equity Tier 1 ratio and the dividend policy of the Group, the coverage of integration costs and rationalization related to the acquisition and the risks sterilization, however, advanced requirements and commitments to Intesa Sanpaolo for acts committed prior to the sale or relating to assets ratios and not comprised in the assets and liabilities transferred.

The transaction is subject all'incondizionato placet of each competent Authority also with reference to the relevant legislative and regulatory frame. The transfer of assets and liabilities, if completed, will be compared with a token payment.

Re-disseminated by The Asian Banker