Key Developments: Intesa Sanpaolo SpA (ISPn.MI)

ISPn.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Intesa Sanpaolo SpA updates on merger by incorporation of Adriano Finance 2 Srl into Intesa Sanpaolo
Monday, 20 Oct 2014 06:57am EDT 

Intesa Sanpaolo SpA:Says the Management Board of the Bank, at its meeting of July 15, approved the plan for the merger by incorporation of Adriano Finance 2 Srl into Intesa Sanpaolo, as well as the related explanatory report.Adriano Finance 2 Srl is a company wholly owned by the merging company.Says the merger plan was filed with the Torino Company Register on Oct. 20.Says the merger shall be submitted for approval to the Management Board of Intesa Sanpaolo.  Full Article

Intesa Sanpaolo SpA signs strategic collaboration agreement with China EximBank-Reuters
Wednesday, 15 Oct 2014 07:04am EDT 

Intesa Sanpaolo SpA:Intesa Sanpaolo and The Export-Import Bank of China (EximBank) signed a strategic agreement for collaboration and support of Italian, Chinese and multinational clients-Reuters.The agreement was signed on the occasion of the Italy-China Business Council convened in Rome, Italy, in the presence of Chinese Premier Li Keqiang and Italy’s Prime Minister Matteo Renzi.  Full Article

Intesa Sanpaolo SpA enters into agreement for transfer of portfolio of non-core real estate assets
Tuesday, 14 Oct 2014 02:11pm EDT 

Intesa Sanpaolo SpA:Says it entered into an agreement concerning the transfer of a portfolio of its non-core real estate assets, consisting of some 113 properties totaling about 115,000 square meters.The portfolio will be transferred to a newly created Italian real estate fund which is managed by IDeA FIMIT SGR.The quotas will be purchased by funds managed by Colony Capital LLC for a price of around 175 million euros.The transaction is expected to be completed by the end of the year and will generate a positive contribution to the Intesa Sanpaolo Group’s consolidated net income of around 40 million euros.  Full Article

Intesa Sanpaolo SpA updates on merger by incorporation of Intesa Sanpaolo Previdenza Sim SpA into Intesa Sanpaolo
Tuesday, 30 Sep 2014 11:02am EDT 

Intesa Sanpaolo SpA:Says the Management Board on June 17 approved the plan for the merger by incorporation of the wholly-owned Intesa Sanpaolo Previdenza Sim SpA into Intesa Sanpaolo SpA.The merger plan was filed with the Torino Company Register on Sept. 30.The merger shall be submitted for approval to the Management Board of Intesa Sanpaolo.  Full Article

Intesa Sanpaolo SpA announces merger by incorporation of Banca di Credito Sardo SpA and Cassa di Risparmio di Venezia SpA
Monday, 15 Sep 2014 10:38am EDT 

Intesa Sanpaolo SpA:Says that the Management Board of the bank, at its meeting of June 17, approved the plan for the merger by incorporation of Banca di Credito Sardo SpA and Cassa di Risparmio di Venezia SpA (companies wholly owned by the merging company) into Intesa Sanpaolo SpA.  Full Article

Intesa Sanpaolo SpA raises 1 billion euro on international markets with launch of subordinated tier 2 benchmark bond issue
Monday, 8 Sep 2014 03:24pm EDT 

Intesa Sanpaolo SpA:Says that Intesa Sanpaolo has launched a 1 billion euro subordinated Tier 2 benchmark bond issue targeted at international markets.It is a 12-year, fixed-rate issue under the Euro Medium Term Notes Programme of Intesa Sanpaolo.The coupon, payable annually in arrears on every Sep. 15 of each year from and including Sep. 15, 2015 up to the maturity date, is equal to 3.928 pct per annum.The re-offer price is 100 pct.The yield to maturity is 3.928 pct per annum, equivalent to the 12-year mid-swap rate plus 260 basis points.Settlement is due on Sep. 15.Minimum denomination of the bond issue is 100 thousand Euro and one thousand Euro thereafter.The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions.It will be listed on the Luxembourg Stock Exchange and, as usual, traded Over- the-Counter.Banca IMI, BNP Paribas, BofA Merrill Lynch, Deutsche Bank and UBS Investment Bank act as joint lead managers for the placement of the bond.The ratings assigned to Intesa Sanpaolo's senior long-term debt are: Baa2 by Moody's, BBB by Standard & Poor's, BBB+ by Fitch and A (low) by DBRS.  Full Article

Intesa Sanpaolo SpA, UniCredit SpA, Clessidra, Nuove Partecipazioni and NK Rosneft' OAO's Long-Term Investments Luxembourg finalize Camfin transaction
Thursday, 10 Jul 2014 12:52pm EDT 

Intesa Sanpaolo SpA:Says Intesa Sanpaolo (ISP), Unicredit (UC), Clessidra, Nuove Partecipazioni (NP) and Long-Term Investments Luxembourg, designated by NK Rosneft' OAO, finalize the Camfin transaction, relating to the acquisition of the 50 pct Camfin stake for 552.7 mln euros.Long-Term Investments Luxembourg purchased from Clessidra the entire share capital of Lauro 54 (owning a participation representing 24.06 pct of Lauro 61/Camfin share capital) and from each of ISP and UC a participation representing 12.97 pct of Lauro 61/Camfin.The shareholders' meeting of Lauro 61 and Camfin resolved upon the partial and non-proportional demerger from Camfin of the assets and liabilities not related to the Pirelli equity stake.Resolved also upon the merger by incorporation of Lauro 61 into Camfin.Says, as a result of the above acquisitions, Long-Term Investments Luxembourg has become the indirect holder (through Lauro 54 and Lauro 61) of 50 pct of Camfin share capital.The remaining 50 pct of Camfin share capital is owned by NP, ISP and UC.NP, ISP and UC have entered into a shareholders’ agreement with respect to the equity stakes held by each of them in Lauro 61/Camfin (38.78, 5.61 and 5.61 pct, respectively), corresponding to 50 pct of Camfin share capital.Says NP, ISP and UC will contribute their stakes into a newco (COINV SpA), which will become the owner of 50 pct of Camfin share capital.COINV will be owned by NP for 76 pct and by each of ISP and UC for 12 pct.  Full Article

Intesa Sanpaolo SpA finalizes contribution of shareholding in NH Italia to NH Hotel Group
Monday, 30 Jun 2014 10:58am EDT 

Intesa Sanpaolo SpA:Says it has executed the capital increase by contributing its entire shareholding owned in NH Italia SpA, representing 44.5 pct of the latter's share capital, to NH Hotel Group SA, formerly NH Hoteles SA (NH).Says this follows the approval obtained at the shareholders' meeting of NH on June 26 regarding the capital increase reserved for Intesa Sanpaolo through the issue of 42,000,000 new ordinary shares of NH at a price of 4.70 euro per share.As a result of the execution of the capital increase, Intesa Sanpaolo holds, directly and indirectly, a shareholding equal to about 16 pct of NH's share capital.  Full Article

Intesa Sanpaolo SpA updates on merger by incorporation of Mediofactoring SpA into Intesa Sanpaolo
Friday, 27 Jun 2014 07:35am EDT 

Intesa Sanpaolo SpA:Says a deed was signed on June 20 relating to the merger by incorporation of Mediofactoring SpA into Intesa Sanpaolo.Says the merger will be performed with an increase in the absorbing company’s share capital from 8,549,266,378.64 euros to 8,553,821,316.56 euros through the issue of 8,759,496 ordinary shares with a nominal value of 0.52 euros each.The merger deed was registered in the Turin Company Register, and the merger will come into legal effect as of July 1.  Full Article

Intesa Sanpaolo SpA launches $2 billion subordinated Tier 2 benchmark bond issue targeted exclusively at US and Canadian markets
Friday, 20 Jun 2014 03:27am EDT 

Intesa Sanpaolo SpA:Says it has launched a $2 billion subordinated Tier 2 benchmark bond issue targeted exclusively at the US and Canadian markets.Says it is a 10-year, fixed-rate bond issue under the U.S. $ Medium Term Notes Programme of Intesa Sanpaolo.Says the coupon, payable semi-annually in arrears on every June 26 and Dec. 26 of each year from and including Dec. 26, 2014 up to the maturity date, is equal to 5.017 pct per annum.Says the re-offer price is 100 pct.Says considering the re-offer price, the yield to maturity is 5.017 pct per annum and the total spread for the investor is equal to the yield of 10-year U.S. Treasury Bill plus 240 basis points per annum.Settlement is due on June 26.The minimum denomination of the bond issue is $200,000 and $1,000 thereafter.Banca IMI, Barclays Capital, Goldman Sachs, JP Morgan Securities, Morgan Stanley and Wells Fargo Securities are the joint lead managers of the bond offering.  Full Article

CORRECTED-Intesa CEO says bank could be centre of sector consolidation

MILAN, Oct 21 - Italy's biggest retail bank, Intesa Sanpaolo, could be a centre of consolidation in the banking sector but there is nothing on the table at the moment, its Chief Executive Officer Carlo Messina said on Tuesday.

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