(Finance) – The Boards of Directors of Cesare Ponti Bank And OPTIMAboth wholly owned by BPER Bank and belonging to the BPER Banca banking group (“BPER Group”), approved, respectively on 29 and 25 May 2023, the plan for the merger by incorporation of Optima into BCP.
This project – explains a note – envisages that the merger will take place in a simplified form, since BCP and Optima are wholly owned by BPER. In view of the foregoing, therefore, there will be no determination of an exchange ratio or an increase in BCP’s share capital to service the merger.
The merger transaction falls within the scope of the rationalization and simplification initiatives of the BPER Group structure envisaged by the 2022-2025 Business Plan and, in particular, is functional to achieving the objective of progressively concentrating the Wealth Management & Asset Management sectors of the BPER Group within Banca Cesare Ponti.
From a regulatory point of view, the merger transaction takes the form, for the parent company BPER Banca, of an exempt related-party transaction as it was concluded within the group in the absence of significant interests of other related parties.