MESTRE (ITALPRESS) – The Board of Banca Ifis has approved the promotion of a voluntary takeover and exchange offer for all the shares of illimity Bank. The offer, which remains conditional on obtaining the relevant regulatory approvals and the fulfillment of the established conditions, is aimed at Banca Ifis acquiring ownership of 100 percent of illimityBank’s shares listed on Euronext Milan, Euronext Star Milan Segment. Specifically, Banca Ifis has proposed that for each share of illimity Bank tendered to the offer, a consideration expressing a unit valuation of 3.55 euros will be recognized, based on the official price of Banca Ifis shares as of January 7, 2025. This consideration is composed of 0.1 newly issued Banca Ifis shares for each illimity Bank share and a cash component of 1.414 euros. If the offer is successful, the transaction-which includes the subsequent merger by incorporation of illimity Bank into Banca Ifis-may enable the Banca Ifis Group to accelerate its growth path and consolidate laleadership in the Italian specialty finance market, expanding its base of SME clients, entering new businesses and new segments, and continuing its leadership in NPLs. The business combination will express greater industrial value than the two separate entities, as a result of the cost and revenue synergies that the two post-merger Groups will generate, in addition to economies of scale. The transaction will be able to count on a strategic, sustainable and long-term industrial vision, and on stable governance guaranteed by the reference shareholder, La Scogliera SA, which, although falling below the 50 percent threshold for the first time, intends to maintain control of the Group. The transaction will create value for all its stakeholders — shareholders, customers, employees, the Italian banking system and the territories in which it operates — with significant benefits from an industrial, financial and sustainability perspective.(ITALPRESS).-Photo: Banca Ifis press office-
