INTESA SANPAOLO: SUPPLEMENTARY AGREEMENT IN RELATION TO THE DISPOSAL TO BPER BANCA OF A GOING CONCERN OF THE GROUP RESULTING FROM THE ACQUISITION OF UBI BANCA
Turin - Milan, 12 November 2020 – With reference to the voluntary public purchase and exchange offer launched by Intesa Sanpaolo for all the UBI Banca ordinary shares, which led to the acquisition, on 5 October 2020, of the total control of UBI Banca by Intesa Sanpaolo, notice is hereby given that an agreement has been reached today which supplements the binding agreement, disclosed on 17 February 2020, entered into by Intesa Sanpaolo and BPER Banca in relation to the disposal of a going concern consisting of a pool of branches of the combined Group and related staff and customer relationships.
The above supplementary agreement completes the identification of the branches as well as identifies people to be included in the going concern. The scope of the going concern comprises 486 branches with accounting autonomy and where customers’ accounts are legally registered (seven more than previously agreed), as well as 134 outlets (such as, for instance, sub-branches) which ensure services to branch customers and do not have accounting autonomy. People to be included in the going concern are 5,107 and are mainly deployed in the network of branches and outlets and in the business areas Private and Corporate, while others operate in ‘semi-centre’ governance areas in support of the regional and local units which coordinate the network of branches included in the going concern and ‘centre’ governance areas for the strengthening of central, control and IT functions.
Last updated 12 November 2020 at 21:26