CariFe may receive binding offer from BPER at the end of the month - report (translated)
BPER Banca [BIT:BPE] could submit a binding offer for Cassa di Risparmio di Ferrara (CariFe) at the end of the month, Italian-language daily Il Sole 24 Ore reported. The unsourced report noted that the BPER board of directors, which is due to meet at the end of the month, will then know if one of its key conditions on voluntary redundancies at BPER has been met. The report said that BPER is looking for 300 voluntary redundancies before committing to an offer.
The Resolution Fund, a bank rescue unit of the Bank of Italy, is likely to carry out a EUR 100m-150m preventive recapitalisation of CariFe as part of the deal. The item said that CariFe will also sell off non-performing loans totalling EUR 500m.