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Intesa Sanpaolo: takeover of Morval bank soon finalised?

(CercleFinance.com) - Intesa Sanpaolo appears to be close to finalising the acquisition of Morval bank for between 150 million and 200 million euros, according to Aurel BGC, which quotes the Italian financial newspaper Il Sole 24 Ore.


It says that this establishment has offices in Switzerland - both in Geneva and in the Italian-speaking canton of Ticino in Lugano. The broker adds that the assets will thus be transferred to Fideuram, Intesa Sanpaolo's asset management division.

According to its website, this Swiss private bank, which is specialised in asset management, belongs to the Zanon di Valgiurata family and has equity capital of 185 million Swiss francs.

For the record, at the end of June Intesa Sanpaolo announced an agreement with the liquidators of Banca Popolare di Vicenza and Veneto Banca for the acquisition of certain assets and liabilities of these two banks for one symbolic euro.


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