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Article: Santander Acquires 1.6% Stake in Italy's IMI; The Purchase Will Increase its Stake in the Future San Paolo-IMI To 4.9%
- Article from:
- PR Newswire
- Article date:
- June 15, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MADRID, June 15, /PRNewswire/ -- Grupo Santander has reached agreement to acquire a 1.6% stake in Istituto Mobiliare Italiano (IMI), equivalent to 0.7% of the future San Paolo-IMI which will result from a previously announced merger between IMI and Istituto Bancario San Paolo di Torino.
The purchase of these shares, from the Fondazione Cariplo, will bring Grupo Santander's shareholding in the new merged Italian bank to 4.9%. Santander joined the core shareholder group of Istituto Bancario San Paolo di Torino in 1995. Chairman Emilio Botin, during the recent annual shareholders meeting in March, announced the bank's intention to maintain a similar stake in the new San ...