BPER Banca to acquire Banca Popolare di Sondrio for €4.3bn.

BPER Banca, an Italian banking group, offered to acquire Banca Popolare di Sondrio, an Italian bank based in Sondrio, Lombardy, for €4.3bn. "This transaction, based on an industrial rationale, represents a unique opportunity to create a leading banking group in Italy, with two complementary banks that have coherent business models and shared values. The new group will benefit from a significant scale in terms of clientele, geographic footprint and synergies, creating further value for all stakeholders of both institutions," Gianni Franco Papa, BPER CEO.