(Finance) – The Ministry of Economy and Finance (MEF) has announced that it has been started today the selection process for theidentification of financial and legal advisors who will assist the MEF in identifying the best methods for divesting the controlling interest in Banca Monte dei Paschi di Siena and will provide such support at all stages of implementation of the operation.
Based on the provisions of the Prime Ministerial Decree of 16 October 2020, the transfer can be carried out, in one or more phasesacross the single or joint appeal to a public sale offer aimed at the public of savers in Italy, including employees of the Banca MPS Group, and/or at Italian and international institutional investors, or to a direct negotiation to be carried out through transparent and non-discriminatory competitive procedures, or to one or more extraordinary operations, therein including an integration operation.
The Ministry’s objective – we read in a note – is “the full valorisation of participationto be carried out in the interest of the Bank and all its shareholders, taking into account the improvement in profitability and increased capitalisation, as well as the prospects for further development”.