Partnership agreement signed by Credito Valtellinese and Banca della Ciociaria
Sondrio, 20 October 2005 - Credito Valtellinese S.c. and Banca della Ciociaria S.p.A. ("Bank") have signed an agreement for a strategic alliance aimed at pursuing operating synergies and areas of commercial partnership in the territory where the Bank operates. This agreement will include the entry of Credito Valtellinese into the Bank's shareholding structure, acquiring a 10% interest for a sum of approximately €6.9 million. The actual transfer of the shares will be subject to necessary authorisations being granted by the authorities, as well as the pre-emption procedure established by the Bank's articles of association.
Banca della Ciociaria was founded in 1913 and is one of the oldest local banks operating in Italy; it is active in the provinces of Frosinone, Latina, and Roma, with a network of fifteen branches. Giuseppe Zeppieri is the Managing Director and General Director of the Bank.
Alberto Della Penna
For more information, please contact: