FSI to acquire a 60% stake in electronic payments unit of Iccrea Bank for $560m.

FSI, an asset management company, agreed to acquire a 60% stake in electronic payments unit of Iccrea Bank, a central institution of Italian credit unions and rural saving banks, for $560m. "We believe the payment sector can grow fast. The new company has no debt, so if opportunities arise, BCC Pay will be able to acquire companies in the banking sector to diversify its customer base and increase its size," Maurizio Tamagnini, FSI CEO.