Pedersoli with UBI in the offer for three bridge banks

Milan, 13 January 2017 – Pedersoli Studio Legale, with a team led by Carlo Pedersoli, has advised UBI Banca in the negotiation of the binding offer, sent to the National Resolution Fund and valid until 18 January 2017, for the purchase of 100% share capital of Nuova Banca delle Marche, Nuova Banca dell’Etruria e del Lazio and Nuova Cassa di Risparmio di Chieti.

According to the offer the National Resolution Fund undertakes to recapitalise in an amount of approximately 450 million Euro the three banks, which will have to comply jointly with certain relevant requirements. Moreover, the transaction is subject, inter alia, to a non-recourse assignment by the three banks of overall 2.2 billion Euro of gross NPLs. The transaction entails also UBI Banca’s corporate capital increase up to 400 million Euro.

Pedersoli team providing legal assistance in the transaction is composed of Carlo Pedersoli, Andrea Gandini and, as to antitrust aspects, Davide Cacchioli (Equity Partners), Csaba Davide Jákó (Partner), including Elena Marinucci, Valentina Canepa, Alessandra Fotticchia, Luca Rossi Provesi, Giulio Sandrelli and Paolo Manzoni.




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