Italy’s BPER to present new plan after Carige deal closes

© Reuters. FILE PHOTO: The logo of Carige bank is seen in Rome, Italy, April 9 2016. REUTERS / Alessandro Bianchi / File Photo

(Repeats without changes)

MILAN (Reuters) – Italy’s fifth-largest bank BPER Banca will present a new business plan after the closing of the deal for Carige, Chief Executive Piero Luigi Montani said in a statement on Tuesday.

Details of synergies from the deal will be provided only after the closing, expected by the end of June, said Montani, adding that the group will develop a private banking business using Carige’s unit Banca Cesare Ponti.

BPER on Monday agreed to buy Carige after entering exclusive talks with Italy’s FITD depositor protection fund last month. ($ 1 = 0.8813 euros)

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