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{{short description|Italian bank}}
⚫
[[File:Veduta_di_tre_quarti_del_Palazzo_della_Banca_Popolare_di_Milano.jpg|thumb|Banca Popolare di Milano]]
{{Infobox company
{{Infobox company
| name = Banca Popolare di Milano S.p.A.
| name = Banca Popolare di Milano S.p.A.
| logo = Banca Popolare di Milano.svg
| logo = Banca Popolare di Milano.svg
| logo_size = 220px
| logo_size = 220px
⚫
| image = File:Veduta_di_tre_quarti_del_Palazzo_della_Banca_Popolare_di_Milano.jpg
| image_caption = Head office in Milan
| type = [[subsidiary]]
| type = [[subsidiary]]
| foundation = {{ubl|1865|{{start date|2017|1|1|df=yes}} (as subsidiary)}}
| foundation = {{ubl|1865|{{start date|2017|1|1|df=yes}} (as subsidiary)}}
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| footnotes =
| footnotes =
}}
}}
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'''Banca Popolare di Milano S.p.A.''' also known as '''Bipiemme''' or just '''BPM''' is an Italian bank based in Milan, Lombardy. The bank is a wholly owned subsidiary of [[Banco BPM]]. '''Banca Popolare di Milano S.c. a r.l.''', an urban area [[cooperative bank]], was founded in 1865, however, due to the merger and the foundation of Banco BPM, the original branches of BPM as well as some businesses were injected into another legal person and BPM's subsidiary [[Banca Popolare di Mantova]], which was renamed to Banca Popolare di Milano S.p.A. on 1 January 2017.

⚫
'''Banca Popolare di Milano S.p.A.''' also known as '''Bipiemme''' or just '''BPM''' is an Italian bank based in Milan, Lombardy. The bank is a wholly owned subsidiary of [[Banco BPM]]. '''Banca Popolare di Milano S.c. a r.l.''', an urban area [[cooperative bank]], was founded in 1865, however, due to the merger and the foundation of Banco BPM, the original branches of BPM as well as some businesses were injected to another legal person and BPM's subsidiary [[Banca Popolare di Mantova]], which was renamed to Banca Popolare di Milano S.p.A. on 1 January 2017.


Before the merger, BPM was a listed company on the [[Borsa Italiana]] (Milan Stock Exchange); after the merger, only the parent company Banco BPM is a listed company.
Before the merger, BPM was a listed company on the [[Borsa Italiana]] (Milan Stock Exchange); after the merger, only the parent company Banco BPM is a listed company.
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==History==
==History==
The second cooperative bank in Italy (the first one was the [[Banca Popolare di Lodi]]), it was founded in 1865<ref>{{cite web|url=http://www.gruppobpm.it/it-ist/governance/documenti-societari/statuto-BPM/allegato1/STATUTO_IT_6AGOSTO.pdf?docDisclaimer=|title=Statuto|trans-title=Articles of association|date=6 August 2015|access-date=12 April 2016|publisher=Banca Popolare di Milano|language=it}}</ref> in [[Milan]] by [[Luigi Luzzatti]], who later served as the nation's Prime Minister. Luzzatti drew his inspiration from the 'credit associations' developed by [[Hermann Schulze-Delitzsch]] in Germany a decade earlier.<ref>Henry W. Wolff. ''People's Banks''. P.S. King & Son, London, 1910, pp. 254-319.</ref>
The second cooperative bank in Italy (the first one was the [[Banca Popolare di Lodi]]), was founded in 1865<ref>{{cite web|url=http://www.gruppobpm.it/it-ist/governance/documenti-societari/statuto-BPM/allegato1/STATUTO_IT_6AGOSTO.pdf?docDisclaimer=|title=Statuto|trans-title=Articles of association|date=6 August 2015|access-date=12 April 2016|publisher=Banca Popolare di Milano|language=it}}</ref> in [[Milan]] by [[Luigi Luzzatti]], who later served as the nation's Prime Minister. Luzzatti drew his inspiration from the 'credit associations' developed by [[Hermann Schulze-Delitzsch]] in Germany a decade earlier.<ref>Henry W. Wolff. ''People's Banks''. P.S. King & Son, London, 1910, pp. 254–319.</ref>


BPM has grown considerably since the 1950s by buying interests in other banks such as Banca Popolare di Roma (1924–1957), la Banca Briantea, Banca Agricola Milanese, Banca Popolare Cooperativa Vogherese, Banca Popolare di Bologna e Ferrara, Banca Popolare di Apricena, INA Banca, [[Cassa di Risparmio di Alessandria]], [[Banca di Legnano]] and [[Banca Popolare di Mantova]].
BPM has grown considerably since the 1950s by buying interests in other banks such as Banca Popolare di Roma (1924–1957), la Banca Briantea, Banca Agricola Milanese, Banca Popolare Cooperativa Vogherese, Banca Popolare di Bologna e Ferrara, Banca Popolare di Apricena, INA Banca, [[Cassa di Risparmio di Alessandria]], [[Banca di Legnano]] and [[Banca Popolare di Mantova]].{{Citation needed|date=September 2023}}


In 1999 Banca Popolare di Milano opened an online banking service called [[WeBank (Italy)|WeBank]].
In 1999 Banca Popolare di Milano opened an online banking service called [[WeBank (Italy)|WeBank]].{{Citation needed|date=September 2023}}


BPM was the minority owner of [[Cassa di Risparmio di Asti]] and [[Crediop]].
BPM was the minority owner of [[Cassa di Risparmio di Asti]] and [[Crediop]].{{Citation needed|date=September 2023}}


On February 25, 2010, BPM announced the acquisition from Banco Popolare of 30% of Factorit spa for 51 million euros. Factorit is a factoring company that operates in the field of the advance and collection of trade receivables and related services, and is also owned by Banca Popolare di Sondrio (60.5%).<ref>{{Cite web |title=Banco BPM {{!}} Conti, mutui, carte, prestiti e assicurazioni |url=https://www.bancobpm.it/ |access-date=2022-05-13 |website=www.bancobpm.it}}</ref>
On February 25, 2010, BPM announced the acquisition from Banco Popolare of 30% of Factorit spa for 51 million euros. Factorit is a factoring company that operates in the field of the advance and collection of trade receivables and related services, and is also owned by Banca Popolare di Sondrio (60.5%).<ref>{{Cite web |title=Banco BPM {{!}} Conti, mutui, carte, prestiti e assicurazioni |url=https://www.bancobpm.it/ |access-date=2022-05-13 |website=www.bancobpm.it}}</ref>


The board of directors of 23 March 2010 approved the sale of the custodian bank activity to Bnp Paribas, generating a capital gain of approximately €50 million.<ref>{{cite web |url=http://www.wallstreetitalia.com/articolo.asp?art_id=895518 |title=Articolo tratto da Wall Street Italia - "Bpm/Il 24 aprile sperimentazione assemblea a distanza in 4 città" |access-date=1 January 2021 |archive-url=http://archive.today/20130412032141/www.wallstreetitalia.com/article.aspx?IdPage=895518 |archive-date=12 April 2013 |url-status=dead}}</ref>
The board of directors of 23 March 2010 approved the sale of the custodian bank activity to Bnp Paribas, generating a capital gain of approximately €50 million.<ref>{{cite web |url=http://www.wallstreetitalia.com/articolo.asp?art_id=895518 |title=Articolo tratto da Wall Street Italia - "Bpm/Il 24 aprile sperimentazione assemblea a distanza in 4 città" |access-date=1 January 2021 |archive-url=https://archive.today/20130412032141/http://www.wallstreetitalia.com/article.aspx?IdPage=895518 |archive-date=12 April 2013 |url-status=dead}}</ref>


With the emergence of the economic crisis in Greece, a few days after the downgrading of Greek government bonds by the main rating agencies, on 11 May 2010 BPM announced that its exposure to securities of "PIGS countries" is less than 22 million euros.<ref>{{cite web |url=http://www.finanzalive.com/flash-news/bpm-esposizione-pigs-22-milioni/ |title=Articolo tratto da Finanzalive.com - "Bpm, l’esposizione ai Pigs ammonta a 22 milioni di euro" |access-date=12 May 2010}}</ref>
With the emergence of the economic crisis in Greece, a few days after the downgrading of Greek government bonds by the main rating agencies, on 11 May 2010 BPM announced that its exposure to securities of "PIGS countries" is less than 22 million euros.<ref>{{cite web |url=http://www.finanzalive.com/flash-news/bpm-esposizione-pigs-22-milioni/ |title=Articolo tratto da Finanzalive.com - "Bpm, l’esposizione ai Pigs ammonta a 22 milioni di euro" |access-date=12 May 2010}}</ref>


On 18 June 2010, the Bank of Italy authorized BPM to buy back from Fondiaria Sai, for 113 million euros, the 51% stake held by Milano Assicurazioni in Bipiemme Vita.<ref>{{cite web |url=http://www.agi.it/repository/struttura-sito/subhp-borsa/flusso-italia/notizie/milano-assicurazioni-cede-per-113-mln-il-51-di-bipiemme-vita-a-bpmbr- |title=Articolo tratto da AGI.it - "MILANO ASSICURAZIONI CEDE PER 113 MLN IL 51% DI BIPIEMME VITA A BPM" |date=18 June 2010 |access-date=1 January 2021 |archive-url=http://archive.today/20120721064021/www.agi.it/repository/struttura-sito/subhp-borsa/flusso-italia/notizie/milano-assicurazioni-cede-per-113-mln-il-51-di-bipiemme-vita-a-bpmbr- |archive-date=21 July 2012 |url-status=dead}}</ref>
On 18 June 2010, the Bank of Italy authorized BPM to buy back from Fondiaria Sai, for 113 million euros, the 51% stake held by Milano Assicurazioni in Bipiemme Vita.<ref>{{cite web |url=http://www.agi.it/repository/struttura-sito/subhp-borsa/flusso-italia/notizie/milano-assicurazioni-cede-per-113-mln-il-51-di-bipiemme-vita-a-bpmbr- |title=Articolo tratto da AGI.it - "MILANO ASSICURAZIONI CEDE PER 113 MLN IL 51% DI BIPIEMME VITA A BPM" |date=18 June 2010 |access-date=1 January 2021 |archive-url=https://archive.today/20120721064021/http://www.agi.it/repository/struttura-sito/subhp-borsa/flusso-italia/notizie/milano-assicurazioni-cede-per-113-mln-il-51-di-bipiemme-vita-a-bpmbr- |archive-date=21 July 2012 |url-status=dead}}</ref>


After the go-ahead from the Bank of Italy in November 2009,<ref>{{cite web |url=http://archivio-radiocor.ilsole24ore.com/articolo-755871/bpm-via-libera-bankitalia-societa/ |title=Articolo tratto da ilSole24Ore - "Bpm: via libera Bankitalia a societa' di credito al consumo Pro Family" |access-date=25 August 2010}}</ref> on 25 June 2010 BPM formally inaugurated ProFamily,<ref>{{cite web |url=http://www.affaritaliani.it/economia/bpm_societa_credito_consumo_pro_family220610.html |title=Articolo tratto da Affaritaliani.it - "Credito al consumo/ La Popolare di Milano lancia Pro Family" |access-date=25 August 2010}}</ref> a new company specializing in consumer credit.
After the go-ahead from the Bank of Italy in November 2009,<ref>{{cite web |url=http://archivio-radiocor.ilsole24ore.com/articolo-755871/bpm-via-libera-bankitalia-societa/ |title=Articolo tratto da ilSole24Ore - "Bpm: via libera Bankitalia a societa' di credito al consumo Pro Family" |access-date=25 August 2010}}</ref> on 25 June 2010 BPM formally inaugurated ProFamily,<ref>{{cite web |url=http://www.affaritaliani.it/economia/bpm_societa_credito_consumo_pro_family220610.html |title=Articolo tratto da Affaritaliani.it - "Credito al consumo/ La Popolare di Milano lancia Pro Family" |access-date=25 August 2010}}</ref> a new company specializing in consumer credit.


On 20 July 2010, BPM announced that it had entered into an alliance agreement with Monte dei Paschi di Siena and Clessidra Sgr to combine Anima Sgr with Prima Sgr and set up a new independent operator in asset management.<ref>{{cite web |url=http://www.bpm.it/ufficiostampa/comunicati/2010_07_20_Com.shtml |title=Comunicato tratto dal sito di Banca Popolare di Milano - "BMPS, BPM e Clessidra: nasce l'alleanza nel risparmio gestito" |access-date=25 August 2010}}</ref>
On 20 July 2010, BPM announced that it had entered into an alliance agreement with Monte dei Paschi di Siena and Clessidra Sgr to combine Anima Sgr with Prima Sgr and set up a new independent operator in asset management. The resulting entity is [[Anima Holding]].<ref>{{cite web |url=http://www.bpm.it/ufficiostampa/comunicati/2010_07_20_Com.shtml |title=Comunicato tratto dal sito di Banca Popolare di Milano - "BMPS, BPM e Clessidra: nasce l'alleanza nel risparmio gestito" |access-date=25 August 2010}}</ref>


===As subsidiary of Banco BPM===
===As a subsidiary of Banco BPM===
On 15 October 2016 the merger between Banca Popolare di Milano (BPM) and [[Banco Popolare]] was approved by the extraordinary shareholders meetings of the two banks. As part of the merger, the branch of Banca Popolare di Milano would be kept as a subsidiary by injecting the business into BPM's subsidiary [[Banca Popolare di Mantova]] and renamed into '''Banca Popolare di Milano S.p.A.''', which the new bank would be a subsidiary of [[Banco BPM]].<ref>{{cite web|url=http://www.gruppobpm.it/en-ist/press-media/press-release/2016/2016_09_22_BPMantova_SpinOff/allegato1/CS_BPM_AND_BPMANTOVA_APPROVE_THE_SPIN-OFF_PLANNED.pdf?docDisclaimer=|title=BPM and BP Mantova Approve the Spin-Off Planned as Part of the Merger Between BPM and BANCO Popolare|date=22 September 2016|access-date=18 October 2016|publisher=Banca Popolare di Milano}}</ref>
On 15 October 2016, the merger between Banca Popolare di Milano (BPM) and [[Banco Popolare]] was approved by the extraordinary shareholders meetings of the two banks. As part of the merger, the branch of Banca Popolare di Milano would be kept as a subsidiary by injecting the business into BPM's subsidiary [[Banca Popolare di Mantova]] and renamed into '''Banca Popolare di Milano S.p.A.''', which the new bank would be a subsidiary of [[Banco BPM]].<ref>{{cite web|url=http://www.gruppobpm.it/en-ist/press-media/press-release/2016/2016_09_22_BPMantova_SpinOff/allegato1/CS_BPM_AND_BPMANTOVA_APPROVE_THE_SPIN-OFF_PLANNED.pdf?docDisclaimer=|title=BPM and BP Mantova Approve the Spin-Off Planned as Part of the Merger Between BPM and BANCO Popolare|date=22 September 2016|access-date=18 October 2016|publisher=Banca Popolare di Milano}}</ref>


The shareholders of Banco BPM would be composed by former shareholders of Banco Popolare and BPM in a proposed ratio of 54.626–45.374%.<ref>{{cite web|url=http://www.gruppobancopopolare.it/media/sites/2/2016_05_24-Joint_Press_Relaeae-The-Boards-of-Banco-Popolare-and-BPM-approve-the-merger-project-2.pdf|title=Approval of the Merger Project by Banco Popolare and AND BPM|date=24 May 2016|access-date=21 September 2016|publisher=Banco Popolare / Banca Popolare di Milano}}</ref> After the capital increase of Banco Popolare in mid-2016, the final exchange ratio would be 1 share of Banco Popolare to 1 share of Banco BPM, as well as 6.386 share of Banca Popolare di Milano to 1 share of Banco BPM.<ref>{{cite web|url=http://www.gruppobancopopolare.it/media/sites/2/2016_05_16-Joint-Press-Release-BP-BPM-Strategic-Plan.pdf|title=Joint Press Release|date=1 July 2016|access-date=21 September 2016|publisher=Banco Popolare / Banca Popolare di Milano}}</ref>
The shareholders of Banco BPM would be composed of former shareholders of Banco Popolare and BPM in a proposed ratio of 54.626–45.374%.<ref>{{cite web|url=http://www.gruppobancopopolare.it/media/sites/2/2016_05_24-Joint_Press_Relaeae-The-Boards-of-Banco-Popolare-and-BPM-approve-the-merger-project-2.pdf|title=Approval of the Merger Project by Banco Popolare and AND BPM|date=24 May 2016|access-date=21 September 2016|publisher=Banco Popolare / Banca Popolare di Milano}}</ref> After the capital increase of Banco Popolare in mid-2016, the final exchange ratio would be 1 share of Banco Popolare to 1 share of Banco BPM, as well as 6.386 share of Banca Popolare di Milano to 1 share of Banco BPM.<ref>{{cite web|url=http://www.gruppobancopopolare.it/media/sites/2/2016_05_16-Joint-Press-Release-BP-BPM-Strategic-Plan.pdf|title=Joint Press Release|date=1 July 2016|access-date=21 September 2016|publisher=Banco Popolare / Banca Popolare di Milano}}</ref>


Banca Popolare di Milano also offered to repurchase the shares if the shareholders against the merger or absent from the extraordinary shareholders meeting, for a price of €0.4918.<ref>{{Cite web |date=2016-11-07 |url=http://www.nordeaprivatebanking.com/wemapp/enwiki/api/privatebanking/corporateactions/DIARSC1600024245.pdf |title=Repurchase Offer |access-date=2016-10-18 |url-status=dead |archive-date=2018-01-21 |archive-url=https://web.archive.org/web/20180121125846/https://www.nordeaprivatebanking.com/wemapp/enwiki/api/privatebanking/corporateactions/DIARSC1600024245.pdf}}</ref> Eventually BPM bought back 178,936,966 shares, or €88,001,199.88, equivalent to 4.07% of the total number of shares.<ref>{{cite web|url=http://www.gruppobpm.it/en-ist/press-media/press-release/2016/2016_11_24_Risultati_recesso/allegato1/CS_ENG_esito_recesso_e_offerta_in_opzione.pdf|title=Results of the Exercise of the Right of Withdrawal Relating to the Merger Banco Poplare – BPM: The Right of Withdrawal Has Been Exercised for a Total of No.178.936.966 Shares, and Equivalent to an Aggregate Liquidation Amount of Euro 88.001.199,88 Offer Under Option Pursuant to Article 2437-Quater[sic] of the Italian Civil Code of No.178.936.966 Shares of Banca Popolare di Milano|date=24 November 2016|access-date=11 December 2016|publisher=Banca Popolare di Milano}}</ref>
Banca Popolare di Milano also offered to repurchase the shares if the shareholders against the merger or absent from the extraordinary shareholders meeting, for a price of €0.4918.<ref>{{Cite web |date=2016-11-07 |url=http://www.nordeaprivatebanking.com/wemapp/enwiki/api/privatebanking/corporateactions/DIARSC1600024245.pdf |title=Repurchase Offer |access-date=2016-10-18 |url-status=dead |archive-date=2018-01-21 |archive-url=https://web.archive.org/web/20180121125846/https://www.nordeaprivatebanking.com/wemapp/enwiki/api/privatebanking/corporateactions/DIARSC1600024245.pdf}}</ref> Eventually BPM bought back 178,936,966 shares, or €88,001,199.88, equivalent to 4.07% of the total number of shares.<ref>{{cite web|url=http://www.gruppobpm.it/en-ist/press-media/press-release/2016/2016_11_24_Risultati_recesso/allegato1/CS_ENG_esito_recesso_e_offerta_in_opzione.pdf|title=Results of the Exercise of the Right of Withdrawal Relating to the Merger Banco Poplare – BPM: The Right of Withdrawal Has Been Exercised for a Total of No.178.936.966 Shares, and Equivalent to an Aggregate Liquidation Amount of Euro 88.001.199,88 Offer Under Option Pursuant to Article 2437-Quater[sic] of the Italian Civil Code of No.178.936.966 Shares of Banca Popolare di Milano|date=24 November 2016|access-date=11 December 2016|publisher=Banca Popolare di Milano}}</ref>
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[[Category:Italian companies established in 2017]]
[[Category:Italian companies established in 2017]]
[[Category:Italian companies disestablished in 2018]]
[[Category:Italian companies disestablished in 2018]]
[[Category:Banks under direct supervision of the European Central Bank]]

Latest revision as of 00:21, 6 April 2024

Banca Popolare di Milano S.p.A.
FormerlyBanca Popolare di Milano S.c. a r.l.
Company typesubsidiary
IndustryFinancial services
Founded
  • 1865
  • 1 January 2017 (2017-01-01) (as subsidiary)
HeadquartersMilan, Italy
Number of locations
Decrease 604 branches (2017)
Key people
Umberto Ambrosoli(chairman)
Giuseppe Castagna[1](CEO)
Services
ParentBanco BPM
DivisionsWeBank
Subsidiaries
  • Banca Akros
  • ProFamily
Websitewww.bpm.it

Banca Popolare di Milano S.p.A. also known as Bipiemme or just BPM is an Italian bank based in Milan, Lombardy. The bank is a wholly owned subsidiary of Banco BPM. Banca Popolare di Milano S.c. a r.l., an urban area cooperative bank, was founded in 1865, however, due to the merger and the foundation of Banco BPM, the original branches of BPM as well as some businesses were injected into another legal person and BPM's subsidiary Banca Popolare di Mantova, which was renamed to Banca Popolare di Milano S.p.A. on 1 January 2017.

Before the merger, BPM was a listed company on the Borsa Italiana (Milan Stock Exchange); after the merger, only the parent company Banco BPM is a listed company.

As of 31 December 2016, before the merger, the bank had 656 branches, including private banking and corporate banking centres; about 61% of the branches of BPM were from Lombardy (390); the group also had branches in Emilia-Romagna (28), Lazio (65), Apulia (36), Piedmont (87), Liguria (11), Veneto (7), Tuscany (5), Campania (2), Marche (1), Molise (1), Abruzzo (1) and Friuli– Venezia Giulia (1).[2]

After the merger, As of 31 December 2017, Banca Popolare di Milano, excluding Banca Akros, had 604 branches.[3]

History

[edit]

The second cooperative bank in Italy (the first one was the Banca Popolare di Lodi), was founded in 1865[4] in Milan by Luigi Luzzatti, who later served as the nation's Prime Minister. Luzzatti drew his inspiration from the 'credit associations' developed by Hermann Schulze-Delitzsch in Germany a decade earlier.[5]

BPM has grown considerably since the 1950s by buying interests in other banks such as Banca Popolare di Roma (1924–1957), la Banca Briantea, Banca Agricola Milanese, Banca Popolare Cooperativa Vogherese, Banca Popolare di Bologna e Ferrara, Banca Popolare di Apricena, INA Banca, Cassa di Risparmio di Alessandria, Banca di Legnano and Banca Popolare di Mantova.[citation needed]

In 1999 Banca Popolare di Milano opened an online banking service called WeBank.[citation needed]

BPM was the minority owner of Cassa di Risparmio di Asti and Crediop.[citation needed]

On February 25, 2010, BPM announced the acquisition from Banco Popolare of 30% of Factorit spa for 51 million euros. Factorit is a factoring company that operates in the field of the advance and collection of trade receivables and related services, and is also owned by Banca Popolare di Sondrio (60.5%).[6]

The board of directors of 23 March 2010 approved the sale of the custodian bank activity to Bnp Paribas, generating a capital gain of approximately €50 million.[7]

With the emergence of the economic crisis in Greece, a few days after the downgrading of Greek government bonds by the main rating agencies, on 11 May 2010 BPM announced that its exposure to securities of "PIGS countries" is less than 22 million euros.[8]

On 18 June 2010, the Bank of Italy authorized BPM to buy back from Fondiaria Sai, for 113 million euros, the 51% stake held by Milano Assicurazioni in Bipiemme Vita.[9]

After the go-ahead from the Bank of Italy in November 2009,[10] on 25 June 2010 BPM formally inaugurated ProFamily,[11] a new company specializing in consumer credit.

On 20 July 2010, BPM announced that it had entered into an alliance agreement with Monte dei Paschi di Siena and Clessidra Sgr to combine Anima Sgr with Prima Sgr and set up a new independent operator in asset management. The resulting entity is Anima Holding.[12]

As a subsidiary of Banco BPM

[edit]

On 15 October 2016, the merger between Banca Popolare di Milano (BPM) and Banco Popolare was approved by the extraordinary shareholders meetings of the two banks. As part of the merger, the branch of Banca Popolare di Milano would be kept as a subsidiary by injecting the business into BPM's subsidiary Banca Popolare di Mantova and renamed into Banca Popolare di Milano S.p.A., which the new bank would be a subsidiary of Banco BPM.[13]

The shareholders of Banco BPM would be composed of former shareholders of Banco Popolare and BPM in a proposed ratio of 54.626–45.374%.[14] After the capital increase of Banco Popolare in mid-2016, the final exchange ratio would be 1 share of Banco Popolare to 1 share of Banco BPM, as well as 6.386 share of Banca Popolare di Milano to 1 share of Banco BPM.[15]

Banca Popolare di Milano also offered to repurchase the shares if the shareholders against the merger or absent from the extraordinary shareholders meeting, for a price of €0.4918.[16] Eventually BPM bought back 178,936,966 shares, or €88,001,199.88, equivalent to 4.07% of the total number of shares.[17]

References

[edit]
  1. ^ "Governance" (in Italian). Banca Popolare di Milano.
  2. ^ "Relazione Finanziaria annuale Esercizio 2016" (in Italian). Banca Popolare di Milano. 2017. Retrieved 21 June 2018 – via Banco BPM website.
  3. ^ "Relazione Finanziaria annuale al 31 dicembre 2017" [2017 Annual Financial Report] (in Italian). Banco BPM. 2018. Retrieved 21 June 2018.
  4. ^ "Statuto" [Articles of association] (PDF) (in Italian). Banca Popolare di Milano. 6 August 2015. Retrieved 12 April 2016.
  5. ^ Henry W. Wolff. People's Banks. P.S. King & Son, London, 1910, pp. 254–319.
  6. ^ "Banco BPM | Conti, mutui, carte, prestiti e assicurazioni". www.bancobpm.it. Retrieved 2022-05-13.
  7. ^ "Articolo tratto da Wall Street Italia - "Bpm/Il 24 aprile sperimentazione assemblea a distanza in 4 città"". Archived from the original on 12 April 2013. Retrieved 1 January 2021.
  8. ^ "Articolo tratto da Finanzalive.com - "Bpm, l'esposizione ai Pigs ammonta a 22 milioni di euro"". Retrieved 12 May 2010.
  9. ^ "Articolo tratto da AGI.it - "MILANO ASSICURAZIONI CEDE PER 113 MLN IL 51% DI BIPIEMME VITA A BPM"". 18 June 2010. Archived from the original on 21 July 2012. Retrieved 1 January 2021.
  10. ^ "Articolo tratto da ilSole24Ore - "Bpm: via libera Bankitalia a societa' di credito al consumo Pro Family"". Retrieved 25 August 2010.
  11. ^ "Articolo tratto da Affaritaliani.it - "Credito al consumo/ La Popolare di Milano lancia Pro Family"". Retrieved 25 August 2010.
  12. ^ "Comunicato tratto dal sito di Banca Popolare di Milano - "BMPS, BPM e Clessidra: nasce l'alleanza nel risparmio gestito"". Retrieved 25 August 2010.
  13. ^ "BPM and BP Mantova Approve the Spin-Off Planned as Part of the Merger Between BPM and BANCO Popolare" (PDF). Banca Popolare di Milano. 22 September 2016. Retrieved 18 October 2016.
  14. ^ "Approval of the Merger Project by Banco Popolare and AND BPM" (PDF). Banco Popolare / Banca Popolare di Milano. 24 May 2016. Retrieved 21 September 2016.
  15. ^ "Joint Press Release" (PDF). Banco Popolare / Banca Popolare di Milano. 1 July 2016. Retrieved 21 September 2016.
  16. ^ "Repurchase Offer" (PDF). 2016-11-07. Archived from the original (PDF) on 2018-01-21. Retrieved 2016-10-18.
  17. ^ "Results of the Exercise of the Right of Withdrawal Relating to the Merger Banco Poplare – BPM: The Right of Withdrawal Has Been Exercised for a Total of No.178.936.966 Shares, and Equivalent to an Aggregate Liquidation Amount of Euro 88.001.199,88 Offer Under Option Pursuant to Article 2437-Quater[sic] of the Italian Civil Code of No.178.936.966 Shares of Banca Popolare di Milano" (PDF). Banca Popolare di Milano. 24 November 2016. Retrieved 11 December 2016.
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