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Intesa Sanpaolo's board approves Banca Apulia merger by incorporation

Intesa Sanpaolo SpA said March 26 that its board of directors approved absorbing Italian lender Banca Apulia SpA by incorporation.

The board approved the move during its March 19 meeting.

As of March 26, Intesa Sanpaolo owned 70.41% of Banca Apulia, according to S&P Global Market Intelligence data.