Thursday, May 24, 2007

Capitalia and UniCredit merge to become second largest bank in Europe

See the news here that the Executive boards of UniCredit and Capitalia agreed to a merger. UniCredit, the biggest Italian bank will pay 21,9 billion Euro in stock for its smaller competitor Capitalia. This leads to the second largest bank in Europe. ABN has a share of 8,6 % in Capitalia, valued at 1,7 billion euro.

1. The merging continues.
2. The ABN AMRO assets can also be used later on.... to pay off loans for the takeover.