Banca Ifis SpA has finalized its acquisition of a 70% stake in pharmacy financing group Credifarma SpA following approval from Italy's central bank.

The Italian lender acquired the combined 32.5% of UniCredit SpA and BNL-BNP Paribas Group in Credifarma and part of the stake of Federfarma, the national federation of Italian pharmacy owners, in the company. Federfarma's stake in Credifarma fell to 30% after the transaction.

Banca Ifis also entered a multiyear strategic partnership agreement with Federfarma to promote Credifarma's role in the industry.