Illimity Bank Engages in Public Takeover by Banca Ifis
Deal News | May 20, 2025 | Legal Community Italy
Banca Ifis has initiated a public takeover offer (Opas) for Illimity Bank, with the assistance of legal advisory firm BonelliErede. BonelliErede's team, led by partner Giuseppe Rumi, is handling various aspects of the transaction, including regulatory, corporate, labor, antitrust, and golden power issues. Illimity Bank, on the other hand, is receiving guidance from Gatti Pavesi Bianchi Ludovici (Gpbl), Cappelli Riolo Crisostomo Calderaro Del Din (Crccd), and Studio Zoppini. Each firm has assembled a team of experts to oversee different facets of the deal, ensuring comprehensive legal support. The offer consists of a mix of shares in Banca Ifis and cash per Illimity share. The first window closes on June 27, with a potential reopening from July 7 to 11. Payment is set for July 4, 2025, with a second possibility on July 18.
Sectors
- Banking and Financial Services
- Legal Services
Geography
- Italy – The transaction involves Italian banks, and the legal advisers are Italian law firms. Thus, the primary geographic focus is Italy.
Industry
- Banking and Financial Services – The article revolves around a takeover deal involving major banks, Illimity and Banca Ifis, which are financial institutions operating within the banking sector.
- Legal Services – Multiple law firms are significantly involved in this transaction, providing advisory services that span a range of legal aspects such as corporate, regulatory, and antitrust matters.
Financials
- 0.1 new Banca Ifis shares + €1.506 per Illimity share – The offer for Illimity shareholders is a combination of newly issued Banca Ifis shares and a cash amount for each Illimity share held.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banca Ifis | Bidding Company | Company | Banca Ifis is initiating the public takeover offer for Illimity Bank. |
| Illimity Bank | Target Company | Company | Illimity Bank is the target of the Banca Ifis takeover offer. |
| BonelliErede | Legal Advisor for Banca Ifis | Company | BonelliErede is providing comprehensive legal advisory services to Banca Ifis for the takeover. |
| Gatti Pavesi Bianchi Ludovici (Gpbl) | Legal Advisor for Illimity Bank | Company | Gpbl is assisting Illimity Bank with legal advice across a multidisciplinary team. |
| Cappelli Riolo Crisostomo Calderaro Del Din (Crccd) | Legal Advisor for Illimity Bank | Company | Crccd supports Illimity Bank on the legal front regarding the takeover. |
| Studio Zoppini | Legal Advisor for Illimity Bank | Company | Studio Zoppini offers legal expertise to Illimity Bank as part of the takeover proceedings. |