Italy’s Popolare Emilia Romagna to sell Arca Impresa

Italian bank Popolare Emilia Romagna is negotiating with Iniziativa Gestione Investimenti the sale of Arca Impresa Gestioni SGR, the private equity arm of the group.

Popolare Emilia Romagna has selected Iniziativa Gestione, after some domestic players tabled other offers which were rejected.

Arca Impresa Gestioni manages four funds. Two of them are in a ‘commitment’ investment phase with total capital of €93.25bn and the other two had a net asset value of €24.5 at the end of June.

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