Banca IFIS has received authorisation from the Bank of Italy to purchase Credifarma SpA

SDIR: REGEM

Mestre (Venice), 23 May 2018 – Banca IFIS hereby announces that it has received clearance from the Bank of Italy to purchase Credifarma SpA, a company that provides financing to pharmacies.

Closure of this transaction, which merges Credifarma SpA into the Banca IFIS Group, should occur during the summer. The following simultaneous phases are envisaged:

1) Acquisition of all the shares held by UniCredit and BNL – BNP Paribas Group, equal to a total of 32,5% of Credifarma’s share capital;

2) Purchase of a part of the current stake held by Federfarma, standing at 21,5 % of Credifarma’s share capital;

3) A capital increase reserved for Banca IFIS, aimed at providing Credifarma with a solid capital base for regulatory purposes and for future development plans.

Upon conclusion of the transaction, Credifarma will be 70% owned by Banca IFIS and 30% by Federfarma.

All the transaction details can be found in the press release announcing the deal, available by clicking here.

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