maci schreef op 4 december 2023 08:47:
De PR voorziening is op orde hoor:
Allfunds and BCC Iccrea Group finalise the acquisition of the
Local Paying Agent business of Iccrea Banca
4 December, 2023
Allfunds Group plc (“Allfunds”) (AMS: ALLFG), one of the world’s leading B2B WealthTech platforms for the fund
industry, and Iccrea Banca, the parent company of the BCC Iccrea Group (the fourth banking group in Italy in
terms of total assets, €168.2 billion, and second in terms of branches in the country, about 2,440), announce that
on Friday 1 December both entities signed the closing of the agreement under which Allfunds acquires Iccrea
Banca’s local paying agent business (Banca Corrispondente e Banca Agente), including a long-term exclusivity
agreement.
With this operation, Allfunds will build upon its position in the local paying agent business in Italy, increase its level
of customer service and, at the same time, strengthen its partnership with a leading financial institution in the
country.
The deal will create value for Allfunds’ shareholders generating EBITDA margin and adjusted EPS accretion from
year 1. The transaction has been fully funded through the Allfunds Group revolving credit facility and has a neutral
impact on Allfunds Banking Group’s capital position.
This agreement is part of the BCC Iccrea Group's strategy aimed at supporting development projects in the area
of asset management, and will allow the Group to capitalise on the value of these assets and to further increase
its solid capital ratios.
ENDS