Banco BPM, Castagna: OPA on Anima is a transformative deal, strong industrial logic

Banco BPM Castagna OPA on Anima is a transformative deal

(Finance) – “The takeover bid for Anima is a transformative operationwhich will strengthen the business model and bring value for shareholders. We are creating a champion in Italy for Life Insurance and Managed Savings, with total assets of approximately 220 billion euros”. This was stated by the CEO of BPM desk, Giuseppe Castagnain the call with the financial community that followed the publication of the 9-month results and the announcement of the offer for Soul aimed at delisting.

“The operation has a strong industrial logic“, he underlined, explaining that “Banco BPM is the natural partner for Animaensuring the full continuity of Anima’s trajectory while offering all the strategic advantages of a financial conglomerate.”

Castagna explained that “the operation is consistent with our Business Plan, focused on Product Factories as strategic growth drivers. This business model allows for an integrated and complete product offering, responding to the financial needs of customers throughout the entire life cycle, allowing Banco BPM to benefit from a greater P&L contribution thanks to additional commissions and full consolidation of profits of Soul”.

Furthermore, “the acquisition of Anima generates a substantial strengthening of the business model, offering visible and resilient revenue growth” and “the transaction helps address the current scenario of declining interest rates diversifying sources of revenue and accelerating, in the medium-long term, a rebalancing of the top line towards Fees & Commissions”.

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