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Italy's Carim says private equity firm eyeing controlling stake
April 12, 2017 / 1:25 PM / 8 months ago

Italy's Carim says private equity firm eyeing controlling stake

MILAN, April 12 (Reuters) - Italy’s Cassa di Risparmio di Rimini (Carim) said on Wednesday its board had granted access to its books to a private equity firm that offered to buy a controlling stake in the regional bank as it seeks to fill a capital gap.

Banca Carim, one of several Italian banks grappling with the fallout of a harsh recession in the country, said its capital ratios were below the requirements demanded by the Bank of Italy.

The bank’s core capital ratio stood at 6.91 percent at end-2016, below a minimum 7.80 percent threshold.

“The board has examined a (non binding) offer ... by a private equity fund willing to inject capital in exchange for control of the bank ... and has decided to grant a due diligence phase,” it said.

Banca Carim said it had also been in touch with a bank deposit guarantee fund - which can use voluntary contributions from lenders for bank rescues - over a possible capital injection. (Reporting by Valentina Za, editing by Giulia Segreti)

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