trending Market Intelligence /marketintelligence/en/news-insights/trending/9qzm4eb3wdpkygv6xxh5ya2 content esgSubNav
In This List

Banca IFIS to acquire controlling stake in Italian pharmacy financing firm

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Banca IFIS to acquire controlling stake in Italian pharmacy financing firm

Banca IFIS SpA said it signed binding agreements with UniCredit SpA, BNL–BNP Paribas Group and Italian pharmacists' association Federfarma for the acquisition of a controlling stake in Italian pharmacy financing firm Credifarma SpA.

Federfarma owns a 67.5% stake in Credifarma, while UniCredit, BNL–BNP Paribas Group equally own minority stakes for the remaining 32.5% of the company.

Banca IFIS will acquire UniCredit's and BNL–BNP Paribas Group's stake and some of Credifarma's stake, and carry out a capital increase to provide Credifarma with a solid capital base.

Banca IFIS said the overall investment for the acquisition, including the capital increase, will be roughly €10 million.

The transaction, subject to approval from the Bank of Italy, is expected to be completed in the summer.

Following the deal, Banca IFIS will own approximately 70% of Credifarma, while Federfarma will retain a 30% stake in the company.

Clifford Chance acted as legal adviser to Banca IFIS, while KPMG Corporate Finance acted as financial adviser.