Key Developments: Banco Popolare Sc (BAPO.MI)

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Latest Key Developments (Source: Significant Developments)

Banco Popolare Sc finalizes sale of Eurovita Assicurazioni together with Aviva and Finoa
Monday, 30 Jun 2014 11:50am EDT 

Banco Popolare Sc:Says Banco Popolare (BP), Aviva Italia Holding and Finoa executed the agreement to sell 79.62 pct of Eurovita Assicurazioni to JCF III Eurovita Holdings, an affiliate of private investments funds advised by J.C. Flowers & Co LLC.The sale is for a total consideration of 47 million euros.BP sold its entire 2.07 pct equity stake in Eurovita for a consideration of about 1.2 million euros.FINOA sold its entire 77.55 pct equity stake in Eurovita for a consideration of about 45.8 million euros.In parallel with the execution of the sale of Eurovita, BP and Aviva started the dissolution procedure to end the Joint Venture in Finoa.BP has been advised by the Law Firm Clifford Chance.  Full Article

Standard & Poor’s affirms Banco Popolare Sc's long and short-term ratings with negative outlook; raises SACP
Tuesday, 17 Jun 2014 03:53pm EDT 

Banco Popolare Sc:Standard & Poor’s affirmed at BB-/B the long and short-term ratings of Banco Popolare and of its subsidiaries Credito Bergamasco and Banca Aletti, with negative outlook.Says Standard & Poor’s has also raised the rating of Banco Popolare’s stand-alone credit profile (SACP) from b to b+.  Full Article

Moody’s reviews Banco Popolare Sc's outlook rating
Friday, 30 May 2014 05:01am EDT 

Banco Popolare Sc:Says Moody’s Investors Service reviewed to negative from positive the outlook on Banco Popolare’s long-term rating.At the same time, the outlook of the standalone rating remains unchanged at positive.  Full Article

Banco Popolare Sc signs deed of merger of Credito Bergamasco SpA into Banco Popolare
Monday, 26 May 2014 11:41am EDT 

Banco Popolare Sc:Says the deed of merger of Credito Bergamasco SpA (Creberg) into Banco Popolare has been signed on May 26.Based on the merger deed, from a civil law perspective the merger will take effect on June 1.From an accounting and fiscal point of view, the merger effectiveness will have started already on Jan. 1.The newly issued Banco Popolare common shares dedicated to the merger share swap will be made available to the shareholders of Credito Bergamasco in demat form in the centralized management system of Monte Titoli S.p.A. as of June 2.Says the newly issued Banco Popolare common shares dedicated to the merger share swap are based on a ratio of 1.412 newly issued Banco Popolare common shares for every 1 Credito Bergamasco common share.Banco Popolare common shares to be issued and assigned in exchange to Credito Bergamasco shareholders will have regular dividend rights attached.Says the shares will also grant the holders the same rights as those attached to the Banco Popolare common shares outstanding at the merger effective date.Credito Bergamasco common shares will no longer be listed on the Mercato Telematico Azionario as of June 2.As of the date of effectiveness of the merger, the share capital of Banco Popolare will increase by 300,582,215 euros, through the issue of 19,332,744 Banco Popolare common shares with no-par value.  Full Article

Fitch updates on Banco Popolare Sc ratings
Monday, 19 May 2014 11:50am EDT 

Banco Popolare Sc:Fitch Ratings has affirmed long and short-term ratings of company at BBB, with outlook negative, and F3, respectively.Viability rating has been changed from bbb- to bb+.  Full Article

Banco Popolare Sc completes 750 million euro senior bond issue
Thursday, 15 May 2014 01:12pm EDT 

Banco Popolare Sc:Says it has issued a 750 million euro senior bond to institutional investors with maturity at Jan. 2018 under its EMTN programme.The fixed-rate coupon bond features a yield corresponding to the mid-swap rate plus 192 basis points.The issue was led by Banca Aletti, Citi, JPMorgan, Mediobanca and Natixis as Joint Book Runners.  Full Article

Banco Popolare Sc says concluded capital increase subscribed in full
Tuesday, 29 Apr 2014 11:45am EDT 

Banco Popolare Sc:Says the rights offer of 166,473,775 newly issued Banco Popolare common shares has been completed.The Offer closed with the full subscription of the 166,473,775 shares, corresponding to 1,498,263,975.00 euros, with no need for the underwriting syndicate to intervene.  Full Article

Credito Bergamasco SpA says Extraordinary Meeting of Shareholders approves project of merger by incorporation in Banco Popolare Sc
Friday, 25 Apr 2014 04:28am EDT 

Credito Bergamasco SpA:Says the Extraordinary General Meeting of Shareholders approved the project for the merger by incorporation of Credito Bergamasco in Banco Popolare Sc.The project was approved by both Boards on Nov. 26, 2013 and by the Extraordinary Meeting of Shareholders of Banco Popolare on March 29.The merger entails assigning 1.412 ordinary Banco Popolare shares for every one Credito Bergamasco ordinary share.The expected effective date of the merger is June 1.  Full Article

Banco Popolare Sc finalizes sale of subsidiary Banco Popolare Croatia
Thursday, 24 Apr 2014 11:40am EDT 

Banco Popolare Sc:Executes the contract of sale of its subsidiary Banco Popolare Croatia to OTP Banka Hrvatska, a subsidiary bank of the Hungarian OTP group.The sales price of the equity interest in Banco Popolare Croatia, equal to 106,977,375 Croatian kuna (corresponding to about 14 million euros), was paid in cash.  Full Article

Banco Popolare Sc completes share capital increase
Thursday, 17 Apr 2014 01:22pm EDT 

Banco Popolare Sc:Closes the rights offering on 166,473,775 newly issued common shares.During the rights offering period, which started on March 31 and ended on April 17, 174,746,682 rights were exercised for the subscription of 165,038,533 Shares, accounting for 99.138 pct of total Shares under the Offer, corresponding to 1,485,346,797 euros.At the end of the Exercise Period, 1,519,668 subscription rights were left unexercised over a total of 1,435,242 Shares, corresponding to 12,917,178 euros.Rights that were not taken up during the Exercise Period will be offered on the Stock market by Banco Popolare during the trading sessions of April 23, 24, 25, 28 and 29, except in case of early closing.  Full Article

Banco Popolare CEO says no more cash calls while he is in charge

BERGAMO, Italy, Oct 2 - The chief executive of Banco Popolare said on Thursday the bank will not ask shareholders for more cash as long as he is in the job, adding he was confident the Italian lender will pass pan-European stress tests of banks.

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