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Banca Popolare dell Emilia Romagna Sc Finalizes Transfer of 100% Stake in Arca Impresa Gestioni SGR SpA to Iniziativa Gestione Investimenti SGR SpA


Thursday, 21 Mar 2013 12:39pm EDT 

Banca Popolare dell Emilia Romagna Sc announced that, at March 21, 2013, since the suspensive conditions have been met, there including in particular receipt of the required legal authorizations, the transaction for the transfer of 100% stake in Arca Impresa Gestioni SGR SpA (AIG) to Iniziativa Gestione Investimenti SGR SpA (IGI) was executed and the shareholding in AIG transferred to IGI. AIG is an asset management company specialising in the promotion and management of closed-end private equity funds. AIG manages four funds, two of which are at the investment stage (with a total commitment of EUR 93.25 million) and two which have nearly completed divestment. IGI is an asset management company owned by Giorgio and Matteo Cirla along with Enrico Palandri and Paolo Merlano, which has made upwards of 50 investments since 1998 for a total of over EUR 300 million. IGI SGR manages three funds raised from Italian and foreign investors, investing in majority and minority stakes. 

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