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Banca Popolare dell Emilia Romagna Sc Signs Sale and Purchase Agreement for Acquisition of 35.98% Stake in Cassa di Risparmio di Bra from Fondazione Cassa di Risparmio di Bra


Thursday, 20 Sep 2012 11:52am EDT 

Banca Popolare dell Emilia Romagna Sc (BPER) announced that based on the Memorandum of Understanding of April 2, 2012, it has signed with Fondazione Cassa di Risparmio di Bra (Fondazione) a sale and purchase agreement which will take effect once the necessary approvals from the competent authorities have been obtained and the procedures required by law have been completed. The agreement provides for the purchase by BPER of 35.98% of the share capital of Cassa di Risparmio di Bra (Cassa) held by the Fondazione for approximately Euro 23.9 million, which will give BPER a 67.00% controlling interest, compared with the 31.02% currently held. The agreement provides that, once the shares have been transferred, BPER and the Fondazione will strengthen the capital base of the Cassa by subscribing an increase in capital on a pro-rata basis in order to help its growth and development in the Piedmont Region. 

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