Some interesting assets owned by Veneto region’s distressed banks Banca Popolare di Vicenza e di Veneto Banca are not part of the acquisition agreement signed by Intesa Sanpaolo last weekend (see here the press release).
More in detail, the acquisition agreement does not include the two banks’ stakes in Banca Intermobiliare (Bim), Arca sgr, Cattolica Assicurazioni, Farbanca, PrestiNuova, Claris Leasing and Claris Factor which are going to be sold by the two banks. And private equity firms are looking at those dossier already.
As for Arca sgr, an open-end investment funds asset maanger where the two Veneto region’s banks own together a 40% stake, Bper bank is the major potential acquiror as the bank already owns a 32.7% stake in the management company. Bper’s ceo Alessandro Vandelli also confirmed last march to be interested in the dossier (see here a previous post by BeBeez). Mr. Vandelli also said that a 700-800 million euros valuation for Arca sgr is no more realistic as it was back in 2015 when an other Italian asset manager, Anima Holding, offered that figure for the firm and some private equity firms too were said to be highly interested in the deal (Atlas Merchant Capital, Warburg Pincus e Centerbridge).
As for Bim, this is a Turin-based private bank controlled by Veneto Banca and listed at the Italian Stock Exchange, which yesterday closed with a 13.67% jump at 1.363 euros per share with a 190 million euros market cap.
Banca Popolare di Vicenza still owns a 9% stake in cattolica Assicurazioni, after having sold a 6% stake last April for 76 million euros.
Finally, Farbanca (a bank focused on pharmacy and healthcare sectors) and PrestiNuova (a consumer loan firm, which is being on sale since the beginning of 2016, see here a previous post by BeBeez) are owned by Pop Vicenza, while Claris Leasing and Claris Factor are leasing and factoring firms owned by Veneto Banca.
