May 10, 2017 / 7:07 PM / 3 months ago

BRIEF-Italy's Ubi Banca says has finalised acquisition of three small banks

May 10 (Reuters) - Italy's UBI Banca says:

* has finalised acquisition of three small banks, Banca Marche, Banca Etruria and CariChieti

* purchased from Italian Resolution fund

* acquisition concluded after receiving required authorisation from European Central Bank, European Commission and Bank of Italy.

* deal finalised after seller recapitalised the banks for a total of 713 million euros. The acquired banks and their units disposed of non-performing loans totalling 2.2 billion euros gross, and UBI approved increase in share capital of UBI Banca of up to 400 million euros

* Osvaldo Ranica appointed Chairman of the three banks Further company coverage: (Reporting by Milan newsroom)

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