Milano, 26 August 2005
Banca Intesa informs that the Extraordinary Commissioner of the Parmalat Group has filed a payment claim in the aggregate amount of approximately 1.6 billion euro against Banca Caboto, together with another intermediary not belonging to Gruppo Intesa, and a payment claim in the aggregate amount of approximately 300 million euro against Banca Intesa, together with another intermediary not belonging to Gruppo Intesa. These payment claims seek damages caused by their role respectively as arrangers and relevant dealers in 2001-2002 in a Debt Issuance Programme and as co-lead managers in other bond issuances in the first half of 2002.
Moreover, Gruppo Intesa was sued by the Extraordinary Commissioner of the Parmalat Group aiming at obtaining revocatory actions related to payments made by the Parmalat Group in the twelve months before its state of insolvency to Banca Intesa, Cassa di Risparmio di Parma e Piacenza, Cassa di Risparmio di Biella e Vercelli and Banca CIS for a total amount of approximately 1 billion euro.
Gruppo Intesa refuses these claims as totally groundless and is certain that judging authorities will reject all Parmalat’s requests thus acknowledging absolute fairness and legitimacy in the behaviour of Banca Intesa and its subsidiaries.
Therefore, Gruppo Intesa believes that these initiatives and provisions related to them will have no significant impact on its statement of income and balance sheet.
Gruppo Intesa is not planning to set aside any provision on damage claims. In keeping with its customary conservative criteria, Gruppo Intesa - following the revocatory actions of Parmalat’s Extraordinary Commissioner - will adequately strengthen the allowance for risks and charges in the consolidated half-yearly report as at 30th June 2005 to be shortly approved with provisions proportioned to statistic data related to charges historically borne from revocatory actions.
Last updated 26 August 2005 at 00:00