Press releases

09 Jul 2020 09:22
Satisfaction of the condition precedent relating to the Golden Power proceeding

Milan, 9th July 2020 – Banca Farmafactoring S.p.A. (“BFF”) and DEPObank – Banca Depositaria Italiana S.p.A. (“DEPObank”) communicate that, following the notification made pursuant to article 2 of Decree Law of 15th March 2012, n° 21, to the Presidency of the Council of Ministers in relation to the planned acquisition by BFF of the majority of the capital of DEPObank and the merger of the latter into BFF (the “Transaction”), the President of the Council of Ministers issued a decree on the exercise of special powers (“golden power”) containing prescriptions that are not an obstacle to its completion.

On the basis of this decree, the parties of the agreement, signed on 13th May 2020, related to the Transaction, have agreed that the dispositions requested by the Authority will be fully implemented, and that the condition precedent related the so-called “golden power” clearance contained in that agreement shall be deemed as fulfilled.