Latest news with #BancaGenerali
Reuters
30-06-2025
- Business
- Reuters
Banca Mediolanum selling its stake in Mediobanca via ABB process
MILAN, June 30 (Reuters) - Italian asset manager Banca Mediolanum ( opens new tab said on Monday it had begun the sale of its entire 3.5% stake in merchant bank Mediobanca ( opens new tab via an accelerated bookbuilding process. In January Banca Monte dei Paschi di Siena (MPS) ( opens new tab announced a surprise all-share offer to buy Mediobanca. After gaining regulatory approval from the European Central Bank last week, MPS is ready to launch its bid for Mediobanca next month. In an attempt to become too big for MPS to swallow, Mediobanca proposed in April to buy private bank Banca Generali ( opens new tab, but was forced to delay a shareholder vote to September 25 to avoid a possible defeat after investors opposing the deal increased their holdings in the merchant bank. Morgan Stanley is acting as sole bookrunner. Banca Mediolanum, which is one of the biggest shareholders in Mediobanca, is selling up to 29.1 million shares for a total value of 570 million euros ($671 million), the bookrunner said. ($1 = 0.8498 euros)
Yahoo
30-06-2025
- Business
- Yahoo
Mediobanca plans $5.7bn shareholder payout to thwart MPS takeover
Italian investment bank Mediobanca has announced a three-year strategy to distribute $5.74bn to its shareholders, as it seeks to counter a hostile takeover bid from smaller competitor Banca Monte dei Paschi di Siena (MPS), reported Reuters. In January this year, MPS launched a €13.3bn ($14bn) all-share buyout offer for merchant bank Mediobanca. Mediobanca rejected the takeover proposal from MPS, stating it is 'destructive' for the business and lacks 'industrial and financial rationale' for Mediobanca shareholders. It also said that the offer could lead to a 'significant loss' of customers, mainly in wealth management (WM) and investment banking. MPS, having secured approval from the European Central Bank, is preparing to launch an all-share bid for Mediobanca next month. Meanwhile, Mediobanca proposed acquiring private bank Banca Generali in April to bolster its scale and deter MPS' advances. However, it was compelled to postpone a shareholder vote on the acquisition to 25 September 2025 due to growing opposition from investors who increased their stakes in Mediobanca to resist the deal. The bank's updated three-year plan to 2028 emphasises expanding its wealth management division, supported by its corporate and investment banking operations, with consumer finance acting as a buffer against macroeconomic uncertainties. Mediobanca projects a 45% increase in net profit over the three years to 2028, reaching €1.9bn ($2.2bn), with revenues expected to grow at an average annual rate of 6%, surpassing €4.4bn ($5.5bn). In its prior plan to 2026, the bank had targeted returning over €4bn ($4.6bn) to shareholders and anticipated a net profit exceeding €1.4bn ($1.64bn). Additionally, Mediobanca plans to issue up to €750m ($878.6m) in Additional Tier 1 bonds under the new strategy, according to Nagel. "Mediobanca plans $5.7bn shareholder payout to thwart MPS takeover" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-06-2025
- Business
- Yahoo
Mediobanca pledges to return $5.74 billion to investors to counter MPS bid
MILAN (Reuters) -Italian merchant bank Mediobanca said on Friday it would return 4.9 billion euros ($5.74 billion) to shareholders, mostly in cash, over three years to 2028 as it seeks to fend off a hostile bid from smaller rival Banca Monte dei Paschi di Siena (MPS). Mediobanca reiterated in a statement that MPS' offer "lacks an industrial and financial rationale for Mediobanca shareholders and carries clear and significant execution risks." After gaining regulatory approval from the European Central Bank on Wednesday, MPS is ready to launch its all-share bid for Mediobanca next month. In an attempt to become too big for MPS to swallow, Mediobanca proposed in April to buy private bank Banca Generali. But it was forced to delay a shareholder vote on the deal to September 25 to avoid a possible defeat, as investors opposing the deal have recently increased their holdings in the merchant bank. In its updated three-year plan to 2028, published on Friday, Mediobanca confirmed it would focus on growing its wealth management business, with its corporate and investment banking segment providing support, and consumer finance operations serving as a driver of diversification against macroeconomic risks. "This virtuous path will be further strengthened by the offer for Banca Generali", it said. In its previous three-year plan to 2026, Mediobanca had said it would return more than 4 billion euros to shareholders over the period and forecast a net profit above 1.4 billion euros. Mediobanca now sees net profit growing 4.5% over the three financial years to 2028, reaching 1.9 billion euros, and expects revenue to rise at an annual average rate of 6% to over 4.4 billion euros. ($1 = 0.8537 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
18-06-2025
- Sport
- Straits Times
Alpine skiing-Brignone still aiming for Olympics, wants to leave on her terms
Alpine skiing-Brignone still aiming for Olympics, wants to leave on her terms MILAN - Italy's Alpine ski champion Federica Brignone said she was doing all she could to be fit for her home Milan-Cortina Olympics next year and wanted to retire smiling on the slopes rather than forced out by injury. The 34-year-old told reporters on Wednesday, however, that it was still too early to say whether she would win the battle. "I got injured at the best moment of my career, of my life," Brignone said at an event in Milan for her sponsor Banca Generali. "And this is bothering me. I do not want to retire from ski now, like that. I loved this sport so much that I want to retire when I am happy, feeling good on the slopes." Overall World Cup champion Brignone, who was a leading medal hope at the Games, fractured her left leg and tore knee ligaments when she crashed during a race in the Italian championships in April. The giant slalom world champion said she remained positive but also realistic and had to respect her body and do what was best for herself. "My first goal is my health and that will continue to be and it won't change because of external pressures, in the sense that if my body won't make it, it won't make it. I think it will make it and I am very positive, it is responding," she said. "Some things are going really beyond expectations. Some other things are giving me a hard time, but it's normal, actually after suffering that kind of injury. "I think I'll be back for the winter. But that's not something I can predict." Brignone said she would not know until the crutches came off for good how much load she could put on the leg. "Obviously it was destroyed, so that has to be respected," she added. The World Cup season starts in October with the Olympics running from February 6-22. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
18-06-2025
- Sport
- The Star
Alpine skiing-Brignone still aiming for Olympics, wants to leave on her terms
FILE PHOTO: Alpine Skiing - FIS Alpine Ski World Cup - Women's Downhill - Garmisch-Partenkirchen, Germany - January 25, 2025 Italy's Federica Brignone celebrates on the podium after winning the Women's Downhill REUTERS/Gintare Karpaviciute/File Photo MILAN (Reuters) -Italy's Alpine ski champion Federica Brignone said she was doing all she could to be fit for her home Milan-Cortina Olympics next year and wanted to retire smiling on the slopes rather than forced out by injury. The 34-year-old told reporters on Wednesday, however, that it was still too early to say whether she would win the battle. "I got injured at the best moment of my career, of my life," Brignone said at an event in Milan for her sponsor Banca Generali. "And this is bothering me. I do not want to retire from ski now, like that. I loved this sport so much that I want to retire when I am happy, feeling good on the slopes." Overall World Cup champion Brignone, who was a leading medal hope at the Games, fractured her left leg and tore knee ligaments when she crashed during a race in the Italian championships in April. The giant slalom world champion said she remained positive but also realistic and had to respect her body and do what was best for herself. "My first goal is my health and that will continue to be and it won't change because of external pressures, in the sense that if my body won't make it, it won't make it. I think it will make it and I am very positive, it is responding," she said. "Some things are going really beyond expectations. Some other things are giving me a hard time, but it's normal, actually after suffering that kind of injury. "I think I'll be back for the winter. But that's not something I can predict." Brignone said she would not know until the crutches came off for good how much load she could put on the leg. "Obviously it was destroyed, so that has to be respected," she added. The World Cup season starts in October with the Olympics running from February 6-22. (Reporting by Giulio Piovaccari, writing by Alan Baldwin, editing by Toby Davis)
