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Investing.com -- UniCredit S.p.A. has been authorized by the European Central Bank (ECB) and the Bank of Italy to acquire direct control of Banco BPM S.p.A. and indirect control of other companies within the Banco BPM Group and Anima Group. This approval is a significant step in UniCredit’s voluntary public exchange offer for all the ordinary shares of Banco BPM, which has been ongoing pursuant to articles 102 and following of the TUF.
The authorization received also permits UniCredit to acquire direct and indirect participations that exceed ten per cent of the consolidated own funds of the UniCredit Group. This is seen as the final step needed for Consob, Italy’s financial regulatory body, to finalize the approval process for the offer document, which was submitted on December 13, 2024. The approval is expected to come through next week.
The Extraordinary General Meeting (EGM) held on March 27, 2025, resolved that the Board of UniCredit is to meet on March 30, 2025, to exercise the capital increase delegation instrumental for the offer launched on Banco BPM S.p.A on November 25, 2024.
UniCredit has stated that it will continue to carefully assess recent developments, particularly those related to BPM’s ongoing offer on Anima without the benefit of the Danish Compromise, as per the press release of March 27, 2025. The terms and conditions of the offer remain unchanged.
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