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Credem, Cariparma make binding offer for all 198 Intesa branches on sale


Published : Wed, 29 Aug 2007 15:29
By : Agencies
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MILAN (Thomson Financial) - Credito Emiliano SpA and Cassa di Risparmio di Parma e Piacenza SpA said they have made a joint binding offer for all 198 bank branches that Intesa Sanpaolo SpA must sell for antitrust reasons.

Under the offer, which will remain valid for 60 days, Credem will buy 116 of the branches for sale, while Cariparma will buy 82.

stephen.jewkes@thomson.com

sj/lce

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