Banca del Fucino has acquired an 85.3% stake in Cassa di Risparmio di Orvieto for €90.4 million, marking a strategic expansion into Central Italy's banking landscape.
Information on the Target
Banca del Fucino S.p.A. (BdF) has successfully finalized a sale and purchase agreement to acquire an 85.3% stake in Cassa di Risparmio di Orvieto S.p.A. (CRO) from Mediocredito Centrale S.p.A. (MCC) for a total value of €90.4 million. As of September 30, 2024, CRO reported total assets of €1.6 billion and equity of €105 million, with loans to customers amounting to €1.3 billion and total customer deposits of €1.7 billion, serving a client base of 63,000.
The acquisition represents an important milestone in the strategic development of the MCC Group, aiming to bolster its growth since 2020, while BdF seeks to enhance its service offerings and expand its reach in Central-Southern Italy.
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Disclosed details
Transaction Size: $90M
Equity Value: $90M