BPM SpA 表示将审查法国农业信贷银行关于合并双方意大利银行业务的提议，并称将为股东寻求“充分价值”。
BPM SpA said it will review Credit Agricole SA’s proposal to combine their Italian banking operations, and said it will seek “adequate value” for shareholders.
根据 Banco BPM 周四发布的声明，董事会已授权首席执行官朱塞佩·卡斯塔尼亚启动谈判。董事会还指出，与已持有该意大利银行近 30% 股份的法国农业信贷银行结盟，将使其他机会落空。
The board of directors has given a mandate to Chief Executive Officer Giuseppe Castagna to start talks, according to a Banco BPM statement on Thursday. The board also noted that a tie-up with Credit Agricole, which already owns nearly 30% of the the Italian bank, would take away other opportunities.
该行表示：“估值标准必须反映竞争性丧失，并确保获得最大程度的股东批准。”
“Valuation criteria must reflect the loss of contestability and secure maximum shareholder approval,” the bank said.
本周早些时候，法国农业信贷银行提出将其意大利银行业务与 Banco BPM 合并，该交易将创建意大利第三大银行。这家法国贷款机构表示，它将在合并后的实体中持有不到 50% 的股份，该实体将继续在米兰上市，卡斯塔尼亚将继续掌舵。
Earlier this week, Credit Agricole offered to merge its Italian banking operations with Banco BPM, a deal that would create Italy’s third-largest bank. The French lender said it would own less than 50% in the combined entity and it would remain listed in Milan, with Castagna remaining in charge.
据彭博新闻社报道，法国农业信贷银行一直在寻求就拟议合并事宜安抚意大利政府，后者是关键利益相关方，此前曾否决过银行业交易。知情人士透露，该行已表示将确保在意大利吸收的储蓄继续投资于该国资产，并表示愿意在必要时调整其提议。
Credit Agricole has sought to reassure the Italian government over the proposed combination, a key stakeholder that has previously shot down banking transactions, Bloomberg News has reported. The bank has indicated it would ensure savings collected in Italy remain invested in the country’s assets, and signaled a willingness to adjust its proposal if needed, people familiar with the matter have said.
卡斯塔尼亚在 8 月表示，与法国农业信贷银行当地业务合并的工业逻辑“非常稳固”。自那时起，Banco BPM 曾收到锡耶纳蒙特帕斯基银行关于可能合并的接洽，但该想法被帕斯基银行的股东否决。
Castagna said in August that the industrial rationale for combination with Credit Agricole’s local operations was “very solid.”Since then, BPM was approached by Banca Monte dei Paschi di Siena SpA about a possible merger, an idea rejected by Paschi’s shareholders.
法国农业信贷银行表示，其提议反映了对 Banco BPM 20% 的溢价，并将为其股东带来 10 亿欧元（11 亿美元）的股息。这家法国银行估计，合并每年可产生约 8 亿欧元的收益。
Credit Agricole has said its proposal reflects a 20% premium for Banco BPM and a €1 billion ($1.1 billion) dividend for its shareholders. The French bank estimates that the combination could produce benefits of about €800 million a year.
市值约220亿欧元的意大利Banco BPM银行去年收购了意大利资产管理公司Anima Holding SpA。鉴于罗马政府有意将国家储蓄和投资保留在国内手中，该部门可能是任何潜在合并中最具政治敏感性的部分之一。
Banco BPM, which has a market value of about €22 billion, acquired Italian asset manager Anima Holding SpA last year. The unit could be one of the most politically sensitive parts of any potential combination, given Rome’s interest in keeping national savings and investments in domestic hands.
“我们无意出售”Anima，Banco BPM银行一位发言人在路透社报道法国农业信贷银行（Credit Agricole）在交易后对剥离持开放态度后表示。
“We have no intention of selling” Anima, a Banco BPM spokesperson said, after Reuters reported that Credit Agricole is open to a divestment after the deal.