The Opas promoted by Banca IFIS on Illimity Bank starts towards the finish line after dissolutionon June 26, 2025, of the consultation pact promoted by Corrado Passera, which controlled 27.2% of the capital. The expiration of the offer is set for June 27 at 17:30, with the institute led by Holding the cliff ready to consolidate the minimum control of 60%.
To encourage membership, Banca IFIS has relaunched the economic offer: exceeded 90% of membership, each shareholder will receive a Cash prize of 5% (0.1775 euros per share).
The 5% prize offer wins
In the session of June 26, 17 million shares were delivered, bringing the total adhesion to 52.33% of the Illimity capital. Among the funds that sold the shares they include:
- Tenile – Metis Holdings (7.25%);
- Sand Grove Capital Management (5.04%).
The cliff, which controls 50.64% of Banca Ifis, has already raised the minimum successful threshold from the original 45% to 60%, sufficient threshold to convene an extraordinary assembly and proceed with the merger by incorporation.
The improvement of the proposal has arrived in recent days, when Banca Ifis has included a Cash prize of 5% after the 90% of adhesions.
As he said Ernesto Fürstenbergpresident of La Scogliera and CEO of Banca Ifis:
It is an independent proposal of the majority shareholder and there is no negotiation in progress with the counterparty (…). I hope that the membership is wide enough to allow the threshold to start to start the fusion process between the two entities.
On the stock exchange, Ilimity closed at +5.6% to 3.60 euros, while IFIS gained 0.73% to 22 euros.
Future scenarios
Attention is now on the overcoming of 90% memberships to obtain the additional prize and proceed immediately to the Delisting of Illimity.
If the memberships are stopped between 60% and 66.67%, Banca IFIS will still be able to evaluate a further operation to complete the OPS with one squeeze out Or a residual opa that will provide a further prize, however decided by Consob.
Once the qualified majority has been reached, the Institute will be able to convene the extraordinary assembly to deliberate the merger by incorporation and complete the Italian bank Risiko.
