Banca Intesa, BCI reveal terms of their merger

Article Abstract:

Banca Intesa SpA and Banca Commerciale Italiana SpA announced the terms of their merger. The deal would form the largest banking group in Italy with more than 279 billion euros in assets. In the euro zone, the merged entity is the 11th-largest banking group. Banca Intesa is offering 1.65 new shares for every current share in BCI up to 70% of BCI's share capital. The merger would create almost 1.6 trillion lire (826.3 million euros) in synergies through 2003.

Comment:

Banca Intesa and Banca Commerciale Italiana announce terms of their merger

Italy, Abstract, Banca Intesa S.p.A., Banca Commerciale Italiana S.p.A. (Milan, Italy)

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EFG Eurobank signs pact to conclude merger deal

Article Abstract:

EFG Eurobank announced that it has signed an agreement that will conclude its merger deal with the Bank of Crete. Under the terms of the deal, 46 of Bank of Crete's 86 branches will be changed into branches that will be run by Eurobank. Eurobank is expecting to see all branches to be converted by October 20, 1999. By the end of 1999, Eurobank believes it will have a total of 200 branches.

Greece, EFG Eurobank Ergasias S.A., Bank of Crete S.A.

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Handlowy shareholders approve merger plan

Article Abstract:

Bank Handlowy W Warszawie SA stockholders voted their approval of the bank's proposed merger with Bank Rozwoju Exportu SA. The shareholders voted against the wishes of the government of Poland.

Banking Institutions, Depository Credit Intermediation, Poland, Banks (Finance), Bank Handlowy w Warszawie S.A., Bank Rozwoju Exportu S.A.

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