At the close of the process, two binding offers had been submitted; Intesa Sanpaolo’s was the only one that could ensure the continuity of the two banks’ critical functions. The acquirer must now proceed to integrate and restructure the assets and liabilities sold as part of the operation.
The banks in liquidation continue to hold, on the asset side, shares and other stakes totalling € billion and all their non-performing loans € billion net of write-downs); on the liability side, they hold capital, junior bonds and risk provisions totalling € billion.