trending Market Intelligence /marketintelligence/en/news-insights/trending/WGZUrQPsmwqLHZmafm0wHw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Report: Apollo sole bidder so far for troubled Italian banks

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Report: Apollo sole bidder so far for troubled Italian banks

?U.S.-based Apollo Global Management LLC is the only bidder so farfor a group of small Italian banks that were rescued from bankruptcy, Reutersreported July 20, citing "several sources close to the matter."

The four banks, Banca delle Marche SpA, , CARIFE SpAand Cassa di Risparmio dellaProvincia di Chieti SpA, were rescued in November 2015, with thehelp of a €3.6 billion deposit guarantee fund financed by other Italian banks.

If the banks are sold for less than €1.65 billion, the otherbanks will need to pay more, according to the head of the country's bankingassociation. Sources told Reuters that Apollo's bid is likely to be far lowerthan that.

The deadline for bids has been extended to 4 p.m. Londontime on July 21.