Bank Merger Resulting in Fourth Largest Italian Banking Network
April 1, 2007
Cleary Gottlieb represented Banche Popolari Unite S.c.p.a. and Banca Lombarda e Piemontese S.p.A. before the Italian Competition Authority in their merger. As a result of the transaction, the new entity, UBI Banca, becomes the fourth largest Italian banking network.
The combination is being achieved through the merger of Banca Lombarda e Piemontese into Banche Popolari Unite. The merger is effective from April 1, 2007.