Banco Popolare - Finlabo Research Equity Report: Fundamental and Technical Analysis and 6 months performance forecast
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Banco Popolare Sc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
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Banco Popolare Sc Signs Agreement with Aviva Italia Holding SpA and Finoa Srl to Sell Eurovita Assicurazioni SpA to Funds Advised by U.S. Private Investment Firm J.C. Flowers & Co.
Banco Popolare Sc (BP) announced that, together with Aviva Italia Holding SpA (AVIVA) and Finoa Srl (FINOA) have signed an agreement to sell 79.62% of Eurovita Assicurazioni SpA (EUROVITA) to JCF III Europe Sarl, an SPV of the Private Equity Fund JC Flowers & Co (JCF), for a total consideration of EUR 47 million. JCF is a U.S. investment firm, focused on the financial and insurance services industries. EUROVITA is an insurance company founded in 1990, that distributes its products through a network of Italian local and regional banks. The company is owned 77.55% by FINOA, a 50% Joint Venture between Banco Popolare and AVIVA whose single material asset is the participation in EUROVITA, and by Banco Popolare, which owns a 2.07% stake. The transaction is scheduled to be finalized within the first quarter of fiscal year 2014, after the required authorizations from the competent authorities have been obtained. BP has been advised by the Law Firm Clifford Chance.
Latest Developments for Banco Popolare Sc
- Banco Popolare Sc finalizes sale of Eurovita Assicurazioni together with Aviva and Finoa
- Standard & Poor’s affirms Banco Popolare Sc's long and short-term ratings with negative outlook; raises SACP
- Moody’s reviews Banco Popolare Sc's outlook rating
- Banco Popolare Sc signs deed of merger of Credito Bergamasco SpA into Banco Popolare
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