Strategy
Written by
Editorial board
The
April 15, 2024
Agreement between Asti Savings Bank And Cassa di Risparmio di Torino Foundation for entry into the Foundation CRT in the bank’s capital, with a stake of 6%.
A five-year shareholders’ agreement is also envisaged between the Cassa di Risparmio di Torino Foundation and the CR Asti Foundation.
The shareholders’ agreements of the Foundations
The existing shareholder agreements between Fondazione CR Asti and respectively Fondazione CR Biella and Fondazione CR Vercelli, signed in December 2019 and expiring in December 2024, are not subject to modifications and are expected to be automatically renewed for a further five-year period until 2029.
The entire operation is aimed at supporting the strategic/industrial and long-term development of the Bank as one of the main proximity banks for the Piedmont and the North of the country.
The extraordinary intervention
In the context of the operation, Banca di Asti sold its own shares representing 11.7% of the share capital to Fondazione CRT, at a price per share of 8.75 euros, for a total of 10.9 million.
CR Asti has undertaken to sell, in several tranches, further treasury shares equal to 4.23% of the share capital, which will be purchased by the Bank on the market in an extraordinary liquidity intervention for the stock, without prejudice to the necessary authorizations.
