Banco Popolare and Banca Popolare di Milano shareholders approve merger
Shareholders of listed Italian lenders Banco Popolare and Banca Popolare di Milano (BPM) have agreed to a merger of the two institutions, according to joint press releases by the two banks.
The merger will create a new entity called Banco BPM, which will have its registered offices in Milan and its corporate headquarters in Verona.
As already communicated to the market, the merger will have the following share ratios:
- One newly issued Banco BPM share for each Banco Popolare share
- One newly issued Banco BPM share for 6.386 BPM shares