Banca IFIS has completed today the acquisition of Cap.Ital.Fin S.p.A. and enters the CQS (Salary-Backed Loan) market
- Banca IFIS S.p.A.
- Gruppo Banca IFIS
- Price Sensitive Press Releases
Venice (Mestre), 2 February 2018 – Banca IFIS announces that, with reference to the binding offer relative to the acquisition of control of Cap.Ital.Fin S.p.A. presented on 24 November 2017, and having received the necessary authorisation, the acquisition of Cap.Ital.Fin S.p.A. has been signed today.
The details of the transaction are indicated below:
-The objective of the operation is the acquisition of 100% of Cap.Ital.Fin S.p.A., a company specialised in loans paid off via a person’s salary, and salary deducted loans for pensioners and private, public and state employees, operating throughout Italy;
-The price paid is approximately 2 million Euro, subject to an adjustment mechanism to be calculated on the basis of the asset statement on the date of execution.
For further information on the transaction, please refer to the press release announcing the operation, issued on 24 November 2017 https://www.bancaifis.it/comunicati-stampa/banca-ifis-sottoscritto-accordo-per-lacquisizione-del-controllo-di-cap-ital-fin-spa/
To effect this transaction, Banca IFIS made use of support from the legal studio ‘Clifford Chance’, which acted as legal advisor.