Latest news with #BPER
Reuters
3 days ago
- Business
- Reuters
Italy's Unipol reports 12% rise in half-year profit
Aug 8 (Reuters) - Italian financial group Unipol ( opens new tab on Friday posted a 12% rise in its first-half net profit to 622 million euros ($725 million) on a reported basis. Unipol, insurance partner and main shareholder of Italian banks BPER ( opens new tab and Popolare di Sondrio ( opens new tab, had backed BPER's recently completed 5.44 billion euro takeover bid for Popolare di Sondrio. The integration of the two banks, expected by the first half of 2026, is set to create a banking group with 410 billion euros in financial assets and around 6 million clients. The consolidated net profit of Italy's second biggest insurer, which includes the contribution of the two banks, was 743 million euros in the first six months of 2025, rising more than 17% from last year. ($1 = 0.8578 euros)
Bloomberg
11-07-2025
- Business
- Bloomberg
BPER Set to Take Over Popolare Sondrio Amid Italy's M&A Wave
BPER Banca SpA is set to take control of rival Banca Popolare di Sondrio SpA after its bid won the backing of a majority of investors. Shareholders tendered 58.3% of Popolare Sondrio's capital, above the minimum threshold of 50% plus one share set by BPER, according to a Milan stock exchange statement.
Reuters
08-07-2025
- Business
- Reuters
BPER CEO expects 'very positive' Q2 results, confirms guidance
ROME, July 8 (Reuters) - BPER ( opens new tab CEO Gianni Franco Papa expects "very positive" results for his bank in the second quarter of 2025, he said in an interview published on Tuesday, confirming guidance for the full year. Speaking to MF newspaper, Papa also said he was confident that BPER would go over a 50% take-up threshold in its ongoing takeover bid for smaller peer Banca Popolare di Sondrio ( opens new tab.
Yahoo
04-07-2025
- Business
- Yahoo
Italy's BPER raises offer for Popolare di Sondrio to €5.4bn
Italian lender BPER has raised its offer to acquire Banca Popolare di Sondrio to €5.4bn ($6.4bn). This marks a substantial jump from its initial €4.3bn all-share proposal launched in February this year. The offer comprises 1.450 newly issued BPER shares plus a cash payment of €1.00 for each Popolare di Sondrio share. The revised bid comes a day after Italy's antitrust authority, AGCM, conditionally approved the acquisition, requiring BPER to divest six branches—five from BPER and one from Popolare di Sondrio—within 10 months. Both banks share a key stakeholder in Unipol, an insurance group that uses them to distribute its products. Unipol endorsed BPER's bid last week. BPER, with over five million clients, more than 1,500 branches, and nearly 20,000 employees as of the end of last year, stands to gain approximately 900,000 customers, close to 400 branches, and around 4,000 employees through the acquisition. The revised offer follows remarks from BPER's Chief Executive, Gianni Franco Papa, who indicated weeks earlier that the bank intended to stick with its original bid. In a separate development in Italy's retail banking sector, UniCredit's CEO, Andrea Orcel, told La Repubblica that the bank is likely to abandon its proposed acquisition of Banco BPM due to challenges from Italy's 'golden power' conditions and court appeals. The European Commission approved the bid, launched in November last year, under the EU Merger Regulation, requiring UniCredit to divest 209 branches in areas with competition concerns. "Italy's BPER raises offer for Popolare di Sondrio to €5.4bn " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Wall Street Journal
04-07-2025
- Business
- Wall Street Journal
Italy's BPER Banca Bumps Popolare Di Sondrio Offer to $6.4 Billion
Italian lender BPER Banca BPE -1.96%decrease; red down pointing triangle topped up its offer for Banca Popolare di Sondrio BPSO 0.68%increase; green up pointing triangle by throwing in a cash component to value the smaller rival at around 5.47 billion euros ($6.43 billion). In February, BPER Banca rushed to join the wave of consolidation sweeping through Italy's crowded banking sector in a bid to gain scale and defend its market position. The offer it put forward for BP Sondrio valued it at roughly 4.3 billion euros based on share prices at the time.
