Milan, 3 December 2018 – Pedersoli Studio Legale has advised Banca di Asti in the negotiation of a framework agreement as to the acquisition by Banca di Asti of the shareholdings held in the above mentioned Foundations in the subsidiary Biverbanca and the participation of the two Foundations into the share capital of Banca di Asti.
The transaction, which will allow Banca di Asti to hold 100% share capital of Biverbanca, sets forth the contribution in Banca di Asti of all Biverbanca shares held by the Foundations (equal to 39.58% of Biverbanca) against a share capital increase granted to the Foundations which, upon completion of the transaction, will be 15.28% held by Banca di Asti.
CR Biella Foundation and CR Vercelli Foundation will also enter into a shareholders’ agreement with Cassa di Risparmio di Asti Foundation.
The execution of the transaction, subject, inter alia, to the requited clearances, is expected by April 2019.
Pedersoli Studio Legale has advised Banca di Asti with a team led by Andrea Gandini and Marcello Magro (Equity Partners) and composed of Marco Molineris (Senior Associate) and Lorenzo Rossi Casana (Associate), while Alessandro Zappasodi (Partner) has provided legal assistance in relation to regulatory matters.
Tosetto, Weigmann e Associati with Marco Weigmann and Andrea Bernardini (Partners) has advised CR Biella Foundation.
Professor Paolo Montalenti and Professor Oreste Cagnasso with Marco D’Arrigo has advised CR Vercelli Foundation.
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