BPER’s Board approves Meliorbanca merger

The Board of Banca Popolare dell’Emilia (BPER) has approved the plan for the absorption of Meliorbanca, a Milan-based investment bank.

The deal was included in BPER’s 2012-2014 business plan and is set to simplify the organisational structure of the group, as well as offering cost saving opportunities.

The merger will see the cancellation of the shares of Meliorbanca, without any increase in capital and it will not involve changes in the company’s articles of association.

The deal is subject to regulatory approval.

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