J.C. Flowers Acquires Monte Paschi Banque From Banca Monte dei Paschi di Siena

Cleary Gottlieb represented the investment funds managed by affiliates of J.C. Flowers & Co (J.C. Flowers) in the acquisition of Monte Paschi Banque S.A. (Monte Paschi Banque) from Banca Monte dei Paschi di Siena S.p.A.

Following consultation of the works council of Monte Paschi Banque and approval from regulatory authorities, J.C. Flowers acquired 100% of the share capital of Monte Paschi Banque.

The transaction was signed on June 20, 2025, and closing occurred on May 29, 2026.

With branches in Paris, Marseille, Nice, Lyon, and the south of France, Monte Paschi Banque (which will subsequently undergo a name change) will look to create partnerships with independent financial advisors to target clients with niche product offerings such as mortgages, Lombard loans, other asset-backed credit, and deposit products. At the same time, Monte Paschi Banque intends to leverage its existing customer base, particularly among real estate owners and entrepreneurs, and to expand its tailored product offering providing specialized working capital solutions in the French market.

Founded in 1998, J.C. Flowers is a leader in financial sector investing, combining deep expertise, global reach, and a proven track record of success. Since inception, J.C. Flowers has deployed more than $18 billion of capital, including co-investment, across 73 portfolio companies in 19 countries, with investments spanning insurance and reinsurance, banking, securities, specialty finance, services, and asset management. J.C. Flowers manages approximately $5 billion in assets and operates from offices in New York, London, and Miami.

For more information, please see the press release.

The Cleary team included partners Amélie Champsaur and Giuseppe Scassellati-Sforzolini and associates Pap Diouf, Camille Kernevès, Luca Engström, Solène Roizard, and Bryan Chia. Partners Anne-Sophie Coustel and Richard Sultman and senior attorney Benjamin Boisanté advised on tax matters. The IP team included partner Gareth Kristensen and associates Kasper Theunissen and Kenza Aiteur. Counsel Jerome Hartemann advised on employment matters. Partner François-Charles Laprévote and associate Hugo Gilli advised on antitrust and State aid matters.