Sanpaolo bidding for Di Napoli – Sanpaolo IMI S.p.A – Banco di Napoli S.p.A

Sanpaolo bidding for Di Napoli – Sanpaolo IMI S.p.A – Banco di Napoli S.p.A – Brief Article

Italian bank Sanpaolo IMI SpA said that it would make a bid for the 2.26% stake in Banco Di Napoli SpA’s voting capital it does not already own. In a newspaper advertisement, Sanpaolo IMI is offering [Euro]1.549 a share for 42.10 million Banco Di Napoli common shares, an financial outlay of as much as [Euro]65.2 million ($58 million). The bid will run today to May 28 and Banco di Napoli common shares will be delisted June 1. Sanpaolo IMI noted that Banco di Napoli saving shares are not subject to the offer. — Heather O’Brian www.TheDeal.com

COPYRIGHT 2001 The Deal LLC

COPYRIGHT 2004 Gale Group