Italian bank sells stake in Anima

Signing contractItalian bank Banca Monte dei Paschi di Siena (BMPS) has sold its 10.3% stake in asset manager Anima to Poste Italiane for a total consideration of €215.2 million. The total amount is made up of BMPS, the third largest bank in Italy, being paid €6.80 per share in addition to €0.167 per share in outstanding dividends by Poste Italiane. The move comes in the wake of plans by BMPS to increase the capital of the bank, which were formulated last November following the conclusion of a comprehensive assessment. The sale will result in a net positive impact for BMPS of €115 million, due to the sum of capital gains and dividends received. In addition, the bank’s common equity tier one ratio has been boosted by 20 basis points. The deal is subject to regulatory approval with the date for fulfilment of conditions set as July 15, 2015. BMPS was advised by Citgroup and UBS. Last year Italy’s Asset Management Holding, the parent company of Anima, floated on the Borsa Italia. Anima’s assets under management were €62.3 billion, as of last month. ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.