BPER Banca Takes Over BP Sondrio with Majority Shareholder Approval

BPER Banca's takeover bid for BP Sondrio has been accepted by the majority of shareholders. BP Sondrio is a commercial bank with EUR 104.2 billion in current deposits and EUR 105.9 billion in current loans. The takeover will likely expand BPER Banca's operations and increase its market presence in the region.

MILAN — Italy's fourth-largest lender, BPER Banca, has successfully acquired a significant stake in Banca Popolare di Sondrio (BPSO), securing at least 35% of the smaller rival's shares. This acquisition, which was part of a buyout offer launched in February, has been met with approval, with the Italian bourse reporting that take-up had reached 35.96% of BPSO's share capital [1].

Initially, BPER Banca offered 1.45 of its own shares per BPSO share, but later increased the bid to 17.8%. This strategic move, aimed at maximizing acceptance, has proven successful. The acceptance period for the offer ended on July 11, with BPER Banca securing the required 35% stake, which is considered sufficient to secure control [1].

The acquisition will create Italy's third-largest banking group, with over 2,000 branches and six million customers. BPER Banca CEO Gianni Franco Papa has assured that the group will maintain its strong presence in northern Italy and regional focus in Sondrio. The CEO has also expressed his intention to enhance the value of the workforce and maintain a local presence, incorporating this combination into a business plan aimed at strengthening the structure in a scenario marked by macroeconomic uncertainty and geopolitical imbalances [2].

According to the group's forecasts, the BPER-Sondrio aggregate could generate net income of more than EUR 2.0 billion in 2027, with a CET 1 ratio of over 15% and profitability of 15%, levels that would place the bank among the leaders in the Italian banking system. The second quarter also closed with a good performance, thanks to the commercial strength of the network. The CEO of BPER spoke of "very positive results" for the first half of the year, confirming the guidance for 2025, while acknowledging that developments will also depend on interest rate trends [2].

References:
[1] https://www.marketscreener.com/quote/stock/BPER-BANCA-S-P-A-76152/news/BPER-Banca-gains-key-35-stake-in-Banca-Popolare-di-Sondrio-50482406/
[2] https://www.marketscreener.com/quote/stock/BPER-BANCA-S-P-A-76152/news/BPER-OPS-on-PopSondrio-closing-positive-quarter-expected-50455257/