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Mps towards the privatisation. The Treasury to transfer its quota in the bank

20 October, Il Messaggero

The Italian Government signed the decree for the privatisation of Banca Mps, namely selling its 68% quota in the bank. The operation also implies the transfer of NPLs for 8 billion € to AMCO through the creation of a bad bank and the issuance of a Tier 1 bond for 700 million. Private investors are meant to subscribe 30% of the bond. The Treasury will subscribe the rest and is expected to transfer the entire quota by 2022.

Source: Il Messaggero

Translator: Cristina Ambrosi