Italy's Banca Ifis launches $309 million exchange offer on illimity Bank
08/01/2025 06:15
ROME, Jan 8 (Reuters) - Italy's Banca Ifis IF.MI said
on Wednesday it had launched 298 million euro ($308.61 million)
exchange offer on illimity Bank ILTY.MI with the aim of
merging with the peer.
Banca Ifis is offering 3.55 euros per shares through a 0.1
newly-issued share for each share of Illimity and a cash
component of 1.414 euros, it said in a statement.
The deal will allow Ifis to "consolidate its leadership in the
Italian speciality finance market, expand its small and medium
enterprises (SME) client base, access to new businesses and new
segments, and continue its leadership in NPLs," it added.
($1 = 0.9656 euros)
(Reporting by Giulia Segreti, editing by Cristina Carlevaro)
((Giulia.Segreti@tr.com; +39.06.80307714;))