Banca Mps finalises disposal of Biverbanca to C.r. Asti

Banca Monte dei Paschi di Siena has today finalised the disposal of its 60.42% shareholding in Cassa di Risparmio di Biella e Vercelli (Biverbanca) to Cassa di Risparmio di Asti.

The sale was settled at a price of EUR 208,962,773.90. By way of this transaction, Banca Mps recognises a total net effect of approx. EUR 25 mln in its income statement, subject to the usual adjustments within agreed financial parameters. The transaction has a 10 bps impact on the current Tier 1 ratio of the MPS Group.

Biverbanca relies on a sales and distribution network of 122 branches located in Northern Italy, of which 116 in Piedmont, 5 in the Aosta Valley and 1 in Lombardy. The acquisition of Biverbanca will enable Banca C.R. Asti to expand its market share in these areas and, more generally, in the North West of Italy.