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Merger with Banca Intesa
- On 24 August 2006, a merger with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI. On 2 January 2007, the merger went into effect, thereby creating Intesa Sanpaolo, now the largest Italian bank and one of the largest in the Eurozone.
en.wikipedia.org/wiki/Sanpaolo_IMI
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Turin/Milan, 20 July 2020 – Intesa Sanpaolo announces that the merger by incorporation of Banca IMI S.p.A. into the Parent Company Intesa Sanpaolo S.p.A. was completed today, pursuant to the Shareholders’ Meeting and Board of Directors resolutions passed by the two companies.
Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers. On 24 August 2006, a merger with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI.
IMI, Istituto Mobiliare Italiano, was created as a public entity with management autonomy. The decree forming the entity was dated November 13, and substantially reproduces the bill prepared by a highly influential politician, Alberto Beneduce.
Intesa Sanpaolo was created on January 1, 2007, through the merger of two leading Italian banking groups, Banca Intesa and Sanpaolo IMI. The first steps toward the merger process were taken on August 26, 2006, when the Boards of Directors of the two banks approved the guidelines for a merger plan.
IMI merged with Istituto Bancario San Paolo di Torino to form Sanpaolo IMI in 1998 (through which a new subsidiary of the new group Banca d'Intermediazione Mobiliare was created ), which in turn merged with Banca Intesa in January 2007.
Aug 27, 2006 · The boards of Italian banks Intesa and Sanpaolo IMI agreed on Saturday to merge, creating an Italian banking group with a market capitalisation of €65bn that can also compete at the European...
Aug 26, 2006 · NEW YORK (MarketWatch) -- Banca Intesa and Sanpaolo IMI, Italy's No. 2 and No. 3 banks, agreed to merge Saturday in a deal that would create the nation's largest retail bank, according to media...
