Friday November 28, 05:46 PM
Bank of Italy clears BPM to buy control of Anima
MILAN, Nov 28, (Reuters) - The Bank (NASDAQ: TBHS - news) of Italy has cleared Banca Popolare di Milano (Milan: PMI.MI - news) to acquire asset manager Anima SGR (Milan: ANM.MI - news) , the Milan cooperative bank said in a statement on Friday.
BPM, which owns 29.9 percent of Anima, said it intends to launch its planned public offer for Anima during December, subject to the approval of markets regulator Consob.
In September BPM said it would offer 1.45 euros for each Anima share in a bid valuing the whole of Anima at 107 million euros. BPM plans to delist Anima once it has completed the acquisition.
Anima's shares ended down 0.37 percent at 1.33 euros.
(Reporting by Nigel Tutt; Editing by Greg Mahlich) Keywords: POPMILANO/ANIMA
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