ROME (ITALPRESS) – Mediocredito Centrale and Banca del Fucino announce that they have signed, at Invitalia’s headquarters, the sale and purchase agreement for the sale of the 85.3 percent stake held by MCC in Cassa di Risparmio di Orvieto for a countervalue of 90.4 million euros. This is stated in a note. As of September 30, 2024, CRO had total assets of 1.6 billion, shareholders’ equity of 105 million, loans to customers of 1.3 billion, total deposits from customers of 1.7 billion, and the number of customers of 63,000. The operation “enhances the growth undertaken by the MCC Group in 2020 and represents a crucial step in its strategic path. “BdF thanks to the operation, the note continues, “will have the opportunity to expand its customer base, strengthen its territorial network and improve the offer of banking and financial services in the territory, consolidating, in line with its long-term strategic vision, its presence in the territories of Central Italy. The entry of CRO into the BdF Group, both institutions with a long tradition of accompanying local economic development, paves the way for a new banking hub capable of responding effectively to the needs of families and businesses. In fact, the finalization of the acquisition of CRO by Banca del Fucino will lead to the creation of the first privately-owned LSI banking group in Central and Southern Italy by aggregated banking product, realizing important synergies among its components, thanks to their geographical contiguity and their strong complementarity in terms of products and reference customers.” In this context, BdF “will guarantee the operational autonomy of CRO, promoting its development and strengthening its positioning through the enhancement of its historical brand, the maintenance of its headquarters in Orvieto and the preservation of a strong strategic presence in the territories of Umbria and Lazio. In addition, utmost attention will be paid to maintaining the employment levels of CRO’s employees, as well as their economic and regulatory treatments, and to active and constant collaboration with local institutions with the aim of promoting synergistic initiatives for the benefit of the territory,” it further reads.The agreement reached “highlights an important enhancement of Cassa di Risparmio and is the result of a transparent competitive process, initiated by MCC in 2024, at the end of which BdF was granted an exclusive to negotiate the details of the Transaction. The Transaction is expected to be finalized by the first half of 2025, subject to the fulfillment of all conditions precedent stipulated in the agreement and obtaining approvals from the relevant regulatory authorities, including the Bank of Italy and the European Central Bank, and may result in a capital strengthening for MCC of approx. +160 bps on the consolidated CET1 ratio”.For the transaction, Invitalia was assisted by Advisor Prometeia, Mediocredito Centrale by Advisor Vitale & Co and for legal aspects by Studio Legale Cappelli Riolo Calderaro Crisostomo Del Din & Partners.Banca del Fucino was assisted by Intesa Sanpaolo S.p.A. IMI Corporate & Investment Banking Division (FIG Origination Corporate Finance & Advisory) and by KPMG Advisory S.p.A., Corporate Finance Division, as financial advisors. Fiscal, financial and regulatory due diligence was handled by KPMG S.p.A. Legal advisors were the law firm Avv. Prof. Mario Cera and Lener & Partners Studio Legale.
– photo press office Mediocredito Centrale -(ITALPRESS).
