Italy

Italy's central bank has ordered Banca Italease to elect a new board and raise capital after spendng EUR610m to unwind derivatives bets 

Italian share prices were a touch lower yesterday, with Banco Popolare leading blue chip decliners after a report said its Italease affiliate may be put into administration.

Banca Italease has paid out euro 610m (US dollar825m) to cap losses stemming from a worsening portfolio of derivatives contracts as the troubled bank seeks to restore order to its finances.

UniCredit Banca, the retail unit of Italian banking group UniCredit, and the credit guarantee consortium Valfidi signed an agreement for €7.0m (US$9.42m) in loans to SMEs in the northern Italian region of Valle d'Aosta.

The UniCredit and Capitalia Board of Directors today approved the merger of Capitalia S.p.A. in UniCredito Italiano S.p.A. The merger will enhance the group s competitive position in Italy in factoring and

In the 2006 the Italian factoring market exceeded the Assifact initial projection of the end of September of cumulative turnover up by

The total factoring turnover of ASSIFACT members was about euros 101 billion in 2005. The trend for the Italian factoring market was negative, largely because of the general

Banca Italease is in advanced talks to buy a stake in

Private equity firm Apax Partners has completed the acquisition of Farmafactoring, the Italian group that provides factoring services to the pharmaceutical and healthcare industry

Private equity house Apax has reportedly acquired a stake in Farmafactoring, the Italian factoring company for the pharmaceutical and healthcare sector