(ANSA) – MILAN, APRIL 07 – Blitz by Credit Agricole, which raises a 9.18% stake in Banco Bpm, becoming its largest shareholder. “This transaction testifies to the strong appreciation of Crédit Agricole for the intrinsic qualities of Banco Bpm: a solid company, with a positive outlook on the financial level and a strong management team and with a proven track-record”, reads the note announcing the purchase of the stake.
Banco is satisfied with the entry of the new shareholder, whose investment – says the institute led by Giuseppe Castagna – “has not been agreed in advance”. “The quality and importance of the investor, as well as the appreciation expressed by the same for our bank” constitute “a clear recognition of the value and potential of Banco Bpm”.
For the French – already present in force in Italy where they bought Cariparma, Friuladria and more recently, Caricesena, Carim and Carismi and Creval – “the operation consolidates the strategic and long-term relationship of the group with Banco Bpm, established above all by consumer credit partnership through the Agos joint venture “. Crédit Agricole, which has not yet asked the ECB to exceed the 10% stake, “intends to expand the scope of the strategic partnership with Banco Bpm”, say the French.
A possible entry by Agricole in the Banco’s capital had been talked about in recent months, as a possible defensive move by the bank in the face of the appetites of Andrea Orcel’s Unicredit. (HANDLE).
Source: Ansa
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