BBV, INA place bids for BNL
Article Abstract:
Istituto Nazionale delle Assicurazioni SpA (INA) of Italy and Banco Bilbao Vizcaya (BBV) of Spain tendered the only two bids for Rome, Italy-based Banca Nazionale del Lavoro SpA (BNL), according to the Italian Treasury. BBV announced it tendered an offer for 5% of Italian state-owned BNL, as part of the former's move to forge cross-border ties prior to the launching of the common currency of Europe. Meanwhile, INA was reported to tendered a bid for 25% of BNL, which is one of the biggest banks in Italy. BBV an INA did not specify the amount they had bid for the stakes. The Italian Treasury intends to sell its whole 85% interest in BNL's ordinary share capital, which could be estimated at around ILr6.2 trillion to ILr6.7 trillion, or $3.55 billion to $3.84 billion.
Comment:
Makes an offer for Rome, Italy-based Banca Nazionale del Lavoro SpA (BNL) for an undisclosed sum, reportedly for 25% of BNL
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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VW unit is buying Lamborghini
Article Abstract:
Volkswagen AG's Audi unit has made public that intends to acquire Automobili Lamborghini SpA of Italy for an undisclosed amount. Lamborghini, whose purchase price is assessed by analysts at between 150 million marks ($83 million) and 200 million marks ($110.6 million), manufactures only around 200 cars annually. Audi spokesperson, Juergen de Graeve, stated that the Lamborghini trademark could enhance Audi's sporty profile, while Lamborghini could avail of Audi's technical expertise. De Graeve also added that the firm aims to increase Lamborghini's production if the acquisition is closed.
Comment:
This unit of Volkswagen AG intends to acquire Automobili Lamborghini SpA of Italy for an undisclosed amount
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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INA, CSFB fail in a bid to buy 35% BNL stake
Article Abstract:
Istituto Nazionale delle Assicurazioni SpA and Credit Suisse First Boston's offer to purchase a 35% stake in Banca Nazionale del Lavoro SpA has been turned down by the Italian Treasury. Instead, the Treasury declared it is considering to privatize Banca Nazionale via a public offering. The rejection has triggered querries on whether the proposed merger of Banca Nazionale and Banco di Napoli would be pushed through as well as speculations that another insurer or bank would offer to buy the bank.
Comment:
Offer w/ Istituto Nazionale delle Assicurazioni to buy 35% stake in Banca Nazionale del Lavoro is rejected by Italian Treasury
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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