SIENA (ITALPRESS) – Monte dei Paschi di Siena has announced the launch of a voluntary public exchange offer for all the shares of Mediobanca for a total consideration of 13.3 billion euros, entirely in shares. This was announced by MPS, noting that the business combination will create a new national champion in the Italian banking sector, ranking third in key segments, with a strong complementarity of products and services and characterized by a highly diversified and resilient business mix, with significant industrial synergies. The new group will protect and foster the development of the two already strong brands MPS and Mediobanca, preserving their unique positioning and competencies and giving Italian households and businesses access to a broader and more integrated platform of banking services.”
And further, the note continues, “the new, modern banking champion will foster the enhancement of talents from both organizations, thanks to opportunities for mutual enrichment and integration, generating innovation and growth; significant value creation for all shareholders with higher profitability compared to the standalone businesses (pro-forma rote of about 14 percent) and strong capital strength (pro-forma cet1 ratio at about 16 percent), together with a sustainable and increasing dividend; 5.03 percent premium over Mediobanca’s official price on Jan. 23, 2025. In addition, the transaction will enable an accelerated utilization of the dta held by MPS, with an estimated net present value to the benefit of Mediobanca shareholders of 1.2 billion euros, or about 10 percent of Mediobanca’s current market capitalization.” “With this transaction of an industrial nature, we want to mark a new approach in the path of consolidation in the banking sector that in an innovative way creates value immediately for both MPS and Mediobanca shareholders, and I believe also for the entire country system,” said Luigi Lovaglio, CEO of Banca Monte dei Paschi di Siena. “We are aiming for a new national champion, with two brands of excellence, which we want to protect and even more enhance. A new and modern, highly competitive banking group, a leader in key specialized businesses and with strong capital strength, which aims to play an increasingly virtuous role in supporting families, businesses and local communities. Together and for the benefit of all shareholders, we have the opportunity to create a player with a best-in-class and resilient global banking model, leveraging distinctive and complementary competencies, extensive distribution networks and agile digital platforms.”
For Lovaglio, “a unique business combination of talent, know-how, brand and values. The right synthesis for an Italian excellence on which to build a future of growth and innovation for the benefit of customers, employees, shareholders and all other stakeholders.”
-photo Agenzia Fotogramma-
(ITALPRESS).
Mps launches 13.3 billion exchange offer on Mediobanca
