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Hampton Roads Bankshares, Inc and Xenith Bankshares announce strategic merger

Wednesday, 10 Feb 2016 05:29pm EST

Hampton Roads Bankshares, Inc:Hampton Roads Bankshares and Xenith Bankshares announce strategic merger.Says transaction has been unanimously approved by the boards of directors of each company.Says transaction will be valued at approximately $107.2 million.Says thomas w. osgood, currently chief financial officer of Xenith, will serve as CFO of the combined company.Based on the closing price of hrb's common stock on February 10, deal will be valued at approximately $107.2 million.Says under agreement, Xenith shareholders will receive 4.4 shares of hrb common stock for each share of Xenith common stock.Says cost savings are expected to generate earnings per share accretion for shareholders of both companies.Upon closing, hrb shareholders, Xenith shareholders will own about 74% and 26%, respectively, of the combined company.

Banca Sistema SpA acquires Beta Stepstone

Thursday, 4 Feb 2016 12:10pm EST

Banca Sistema SpA:Signs agreement with Stepstone Financial Holdings for acquisition of 100 pct of share capital of Beta Stepstone ‍.Acquisition price of 60.8 million euros to be paid in cash, includes a portion of late payment interests not yet collected by Beta amounting to around 16 million euros as at June 30, 2015.Expects that the acquisition will contribute to an increase in its annual factoring turnover by 150 million euros - 250 million euros and will result in the achievement of cost synergies for around 1 million euros, with negligible integration costs, and funding synergies for 1.7 million euros.The closing is expected in H1 2016‍​.

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Analyst Research

Report Title Price
Provider : Brown Brothers Harriman & Co.
$12.00
Provider : Brown Brothers Harriman & Co.
$12.00
Provider : Brown Brothers Harriman & Co.
$35.00
Provider : Brown Brothers Harriman & Co.
$35.00
Provider : Banorte-Ixe
$10.00

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