MILAN (ITALPRESS) – Banca Generali today launched a voluntary cash tender offer for all of Intermonte’s ordinary shares at a price of 3.04 euros per share, including a 24.0 percent premium on the average share price over the past three months. In the event of full acceptance of the Offer by all holders of the 32,300,000 ordinary shares covered by the Offer, the total maximum countervalue of the Offer, calculated on the basis of the Price per share, will be 98.2 million euros. Banca Generali announced this, stressing that the Offer aims to raise at least 90 percent of Intermonte’s shares so as to enable its delisting.
“Banca Generali is thus aiming for the integration into its banking group of Intermonte, a leading independent broker with a leading position in the Italian market and 30 years of consolidated experience and success,” it reads. “Intermonte has characteristics of excellence in its areas of activity – Trading & Trading, Global Markets, Investment Banking and Digital Division & Advisory and Research – which are complementary and synergistic with the activities of Banca Generali and its private positioning, with its particular proximity to entrepreneurs and small and medium-sized enterprises (“SMEs”).
The transaction is part of Banca Generali’s plan to strengthen its growth aimed at creating value for all stakeholders by further differentiating its positioning from peers, with the development of distinctive professional skills to which to add increasingly in-depth solutions for asset protection and advisory. The integration of Intermonte, the note continues, will enable the internalization of part of the value chain in trading and derivatives business. But most importantly, it will open up further important opportunities in the privileged relationship the bank has been able to build with its client base of entrepreneurs and businesses, where it sees increasing demand for professional advice on strategic choices. Indeed, Intermonte’s contribution of experience and expertise in investment banking and corporate advisory reinforce a priority area of development for corporate-led clients and, with the expansion of services dedicated to them, further strengthen the fiduciary relationship linked to the professionalism of its advisors.
– Banca Generali press office photo –
(ITALPRESS).
