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Banca IFIS obtains regulatory approval to buy majority stake in Credifarma

Banca IFIS SpA said it received approval from the Banca D'Italia SpA for its acquisition of a majority stake in Italian pharmacy financing group Credifarma SpA.

The transaction, which was first disclosed in January, is expected to complete during the summer, after which Banca IFIS will hold 70% of Credifarma's share capital, while Federfarma will own a 30% stake in the company.