UniCredit Expresses Concerns Over Government Conditions in Banco BPM Bid
Deal News | Apr 22, 2025 | Zawya
UniCredit is facing significant challenges in its attempt to acquire Banco BPM due to conditions set by the Italian government. The bank has expressed concerns about the impact of these conditions on its ability to make sound decisions related to the acquisition. The uncertainty surrounding UniCredit's 14 billion-euro bid for Banco BPM has negatively impacted the latter's shares, whereas shares for Commerzbank, another potential acquisition target of UniCredit, have risen. The acquisition deal with Banco BPM is scheduled to commence on April 28 and last until the end of June. UniCredit retains the right to withdraw from the deal at any point. Among the Italian government's conditions are the cessation of UniCredit's activities in Russia within nine months, maintaining certain financial ratios, and supporting investments in Anima Holding. UniCredit has raised its objections to the decree and is awaiting feedback. Until then, no further action will be taken on the Banco BPM offer.
Sectors
- Banking and Financial Services
- Mergers and Acquisitions
Geography
- Italy – The primary focus of the article is on Italian banks, namely UniCredit and Banco BPM, and the conditions set by the Italian government that affect the acquisition bid.
- Germany – Commerzbank, a potential acquisition target for UniCredit, presents geographical interest in the transaction.
Industry
- Banking and Financial Services – The article focuses on UniCredit's attempt to acquire Banco BPM, highlighting the involvement of banks in mergers and acquisitions within the financial services industry.
- Mergers and Acquisitions – The article discusses UniCredit's acquisition bid for Banco BPM, a significant M&A activity within the banking industry.
Financials
- 14 billion-euro ($16 billion) – The all-share bid amount proposed by UniCredit for Banco BPM.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| UniCredit | Bidding Company | Companies | Italy's second-biggest bank seeking to acquire Banco BPM under specific conditions laid out by the government. |
| Banco BPM | Target Company | Companies | An Italian bank that is the target of UniCredit's acquisition bid. |
| Italian Government | Regulatory Authority | Government | Sets conditions that UniCredit must meet to complete its acquisition bid for Banco BPM. |
| Commerzbank | Potential Target Company | Companies | A German bank that is another potential acquisition target for UniCredit. |
| Monte dei Paschi di Siena | Other Company | Companies | Italian bank involved in mergers, conditional approval given for its bid with Mediobanca, and BPER's bid for Popolare di Sondrio. |
| BPER Bank | Other Company | Companies | Involved in another cleared merger and acquisition activity with Popolare di Sondrio. |
| Anima Holding | Investment Company | Companies | An investment entity associated with Banco BPM, where UniCredit is conditionally required to maintain and support investments. |