Joint Press Release Unione Fiduciaria Acquires 100% Of
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JOINT PRESS RELEASE UNIONE FIDUCIARIA ACQUIRES 100% OF THE ISTIFID SHARE CAPITAL RIGHT OF CREVAL AND BANCO DESIO TO REINVEST PART OF THE CASH COLLECTED IN SHARES OF UNIONE FIDUCIARIA Sondrio - Desio - Milan, 13 April 2016 – Credito Valtellinese s.c. (“Creval”), Banco di Desio e della Brianza S.p.A. (“Banco Desio”) and Canova Investissements S.r.l., signed an agreement today for the sale of all the equity investment currently held in Istifid S.p.A. (“Istifid”) to Unione Fiduciaria S.p.A. (“UF”). The purchase by Unione Fiduciaria of 100% of the share capital of Istifid (net of treasury shares) is expected by the beginning of May. Creval and Banco Desio may invest part of the cash for the sale of Istifid share to purchase shares of Unione Fiduciaria up to a maximum of 8% of the share capital. More precisely, and in the event of full investment: Creval will reach 7.72% and Banco Desio will acquire a 2% share, alongside the major shareholders: ICBPI (24%), BPER (24%), BANCA POPOLARE DI SONDRIO (24%) and BANCO POPOLARE (8.35%). The transaction will allow Istifid to strengthen its management capacity and expand the services offered to its customers, while UF may further consolidate market leadership, increasing the managed trust assets by approximately EUR 3.2 billion. The transaction, after the recent acquisitions of UBI Fiduciaria and Fiducia SPA, will allow Unione Fiduciaria to exceed EUR 19 billion of managed assets and increase its customers. At the same time, Creval and Banco Desio will further enhance the range of services to their customers benefiting from the experience and professionalism of Unione Fiduciaria. ARCHÉ s.r.l., in his capacity of financial advisor, has supported the Selling Shareholders. Company contacts BANCO DESIO CREVAL Investor & Media relations Investor Relator Telephone + 39 02 80637471 - +39 02 80637403 Telephone +39 0362 613469 Email: [email protected] Email: [email protected] Email: [email protected] Community Srl - Communication consulting Tel. +39 02 89404231 Email: [email protected] CANOVA INVESTISSEMENTS UNIONE FIDUCIARIA The Chairman General Management Telephone +39 02 36736600 / +39 02 36736579 Telephone + 390272422247/49 Email: [email protected] Email: [email protected] Istifid S.p.A., fiduciary company set up in 1972, offers fiduciary services (administration of assets or rights on behalf of third parties, representation in the Shareholders’ meetings of companies and bodies, deposit of values with specific constraints, trust, stock option plans, shareholders’ agreements, fiduciary registration of asset management) and accounting and administrative service. At the beginning of 2015, the business unit called Servizio Organizzazione Aziendale «SOA» was sold to Computershare S.p.A., Italian branch office of the listed Australian Group Computershare. As at 31 December 2015, managed assets were EUR 3.2 billion. Unione Fiduciaria S.p.A. was set up in 1958 by eight Cooperative banks, to which other cooperative banks forming its current shareholding structure were added in the following years (ICBPI, BPER, BP SONDRIO, BANCO POPOLARE, BPM, CREVAL). Over the years, the activity of the Company increased considerably and underwent a wide diversification; in addition to the fiduciary services, it currently offers IT services and administrative and consulting services to financial intermediaries. During 2015, UF carried out two acquisitions in the fiduciary sector: UBI Fiduciaria, which brought in managed assets of approximately EUR 1 billion and Fiducia S.p.A. As at 31 December 2015, managed assets were EUR 16.5 billion. With managed assets of EUR 16.5 billion at 31 December 2015, UF is the first fiduciary company in terms of assets on the Italian market. .