Intesa Sanpaolo has launched its massive takeover bid (OPA) for MPS, an operation that would lead to the creation of the largest banking and wealth management group in Italy, with leading positions at the European level.
The deal is worth €30.6 billion, offering a 12.5% cash premium over Friday’s closing share price. It is the largest transaction ever carried out in Italy’s biggest banking consolidation wave.
If the takeover is successful, Intesa Sanpaolo will sell the MPS brand and its assets to Unipol Assicurazioni, gaining full control of Mediobanca and of the stake in Generali held by the group based in Piazzetta Cuccia.
“We aim to maximize value for our shareholders and foundations through a strictly market-driven transaction, free from political influence or power dynamics.”
Messina emphasized that integrating the non-performing loans (NPLs) of Mediobanca and MPS would create “absolutely no problems” for Intesa Sanpaolo’s balance sheet, as they are largely secured.
From an employment perspective, the operation could create significant opportunities for young people. The CEO highlighted that this program will be the first entirely focused on youth employment, with up to 13,000 young people potentially being hired.
“If I start an operation, I see it through to the end,” Messina concluded during the press conference, expressing confidence in the success of the deal.