Factoring group seeks external growth
Italian factoring group Banca Ifis intends to pursue external growth by acquiring another Italian group, says its chief executive Giovanni Bossi, but, so far, has not entered any concrete negotiations.
Italian factoring group Banca Ifis intends to pursue external growth by acquiring another Italian group, says its chief executive Giovanni Bossi, but, so far, has not entered any concrete negotiations.
Banca Carige will allocate Ђ100m to small- and medium-sized enterprises (SMEs) from the Liguria region associated with Fidimpresa Liguria and Mediocom Liguria.
Banche Popolari Unite Scrl (BPU) has agreed to sell its 50% stake in ABF Leasing SpA to Banca Popolare dell'Emilia Romagna Scrl for Ђ24.5m, according to a BPU statement.
Merloni Elettrodomestici SpA said its board agreed yesterday to sell a 40% stake in the factoring company Faber Factor for Ђ4.2m to Fineldo, the holding company of the Merloni family which controls the white product manufacturer.
Italian banking group UniCredit is preparing to launch a Ђ300m bond securitising credit granted to small-and medium-sized enterprises (SMEs) in northwest Italy, after successfully issuing a similar bond last year.
Merloni Elettrodomestici (electrical appliances), will sell out Faber Factor, a factoring company half-owned by Merloni Elettrodomestici and the remaining half by Fineldo, (the family's holding company).
Factoring companies that supplied working capital finance to subsidiaries of Parmalat will receive nothing in compensation, according to Enrico Bondi, the government-appointed administrator of the failed Italian dairy group.
Italian banking group Sanpaolo IMI is expanding its services to businesses with the recent introduction of a Ђ250m programme to provide financing for research and development to Italian SMEs.
The European Investment Bank (EIB) granted a loan on 6 July of Ђ70 million to Italian bank Banca Sella and its leasing subsidiary Biella Leasing, to finance initiatives in the industrial and services sector carried out by small- and medium-sized e
Italian factoring bank Banca IFIS is to launch a convertible bond issue of up to Ђ50m. The issue price of each bond will Ђ12.50 euros, with an equal price for their conversion to shares.