Banca Generali, the provide on Intermonte begins | EUROtoday

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The provide on Intermonte begins in Piazza Affari. Banca Generali, led by Gian Maria Mossa, declares that it has acquired the inexperienced mild from the Bank of Italy and Consob for the voluntary public buy provide for everything of the odd shares of Intermonte Partners Sim Spa. The Acceptance Period, agreed with Consob , will start at 8.30 am (Italian time) on 23 December 2024 and can finish at 5.30 pm (Italian time) on 24 January 2025, extremes included, except prolonged in accordance with relevant laws. January 24, 2025 will subsequently symbolize, except the Acceptance Period is prolonged in accordance with relevant laws, the deadline of the Offer. The fee of the consideration to those that tendered their Shares to the Offer will happen on 31 January 2025.

The provide launched on September sixteenth

On 16 September, Banca Generali launched a voluntary public takeover provide for the odd shares of Intermonte for a worth of three.04 euros per share. The consideration for the provide, on the time of launch, included a premium equal to 21.9% in comparison with the official worth of Intermonte shares on 13 September and a premium of 24% on the common share worth of the final 3 months. In the occasion of full acceptance of the provide by all holders of the 32,300,000 odd shares topic to the provide, the utmost general worth, calculated on the idea of the consideration per share, might be equal to 98.2 million euros. “The offer – we read in the note – has the objective of collecting at least 90% of Intermonte’s shares in order to allow its delisting”. Banca Generali is thus aiming to combine Intermonte into its banking group, a major unbiased dealer with a management place on the Italian market and thirty years of consolidated expertise and success.

The operation

«With the combination, benefits are anticipated from funding banking and company advisory for SMEs and synergies in negotiations», defined Banca Generali within the observe saying the takeover bid, including that the operation is a part of the strengthening the expansion of the group “aimed at creating value for all stakeholders through further differentiation of its positioning compared to peers, with the development of distinctive professional skills combined with increasingly in-depth solutions for asset protection and advisory”.