Equita assisted Crédit Agricole Italia in the tender offer for all shares of Credito Valtellinese


Equita assisting Crédit Agricole Italia

Milan, 26 April 2021 – Crédit Agricole Italia, subsidiary of Crédit Agricole SA with a longstanding presence in Italy serving more than 4.5 million customers in the country, through more than 1,000 branches and 14,000 employees, successfully completed the voluntary public tender offer for all shares of Credito Valtellinese.

On the basis of the results communicated by the appointed intermediaries, 91% of the shares subject to the offer have been tendered to the offer. As a result, the target threshold of 90% was successfully exceeded. The total consideration amounted to €12.50 per share, of which €12.27 ex dividend and €0.23 as dividend.

The success of the tender offer will allow Crédit Agricole Italia to continue its growth in Italy, both in terms of size and market positioning. The integration of Credito Valtellinese will create a new, robust and profitable Italian banking group that will benefit from a strengthened local footprint and that will create value for all stakeholders.

Equita assisted Crédit Agricole Italia with a team led by Carlo Andrea Volpe, Co-Head Investment Banking, and formed by Marcello Daverio, Edoardo Achilli, Giulia Maffini and Marco Razzoli.

This deal follows another successful transaction where Equita acted as financial advisor: the public tender offer launched by Intesa Sanpaolo in 2020 on UBI Banca shares. Also in that case, more than 90% of the shares adhered to the offer.

Carlo Andrea Volpe commented: “The transaction completed by Crédit Agricole Italia – that follows the tender offer launched in 2020 by Intesa Sanpaolo to acquire UBI Banca – confirms the ability of our team to assist banking groups and financial institutions. It also confirms the central role of Equita in the ongoing consolidation of such industry in Italy and our leadership in executing complex M&A deals. Our mission is to continue to help banks with their value creation strategy for all stakeholders, including clients and shareholders.”

Read the official press release published by Crédit Agricole Italia (link) and follow Equita on LinkedIn (https://www.linkedin.com/company/equita).

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