BPER Banca S.p.A. (BIT:BPE) made an offer to acquire an additional 51.2% stake in Banco di Sardegna S.p.A. (BIT:BSRP) in a tender offer transaction on November 7, 2019. The board of directors of BPER in the context of the resolutions concerning the public exchange offer on the saving shares of Banco di Sardegna S.p.A communicated to the market on the date thereof, resolved to exercise the poweres granted by the extraordinary shareholers meeting held on July 4, 2019. The Board resolved upon the capital increase, in relation to the contribution of saving shares of BdS which may be tendered to the OPS, for a maximum total amount of €23.65 million, the issuance of 7.883 million BPER ordinary shares, at the price of €3.53 each, of which €3 to be allocated to share capital and €0.53 to be allocated to share premium.

BPER Banca S.p.A.(offeror) agreed to acquire an additional 51.2% stake in Banco di Sardegna S.p.A.(Issuer) for €33.1 million on November 20, 2019. BPER Banca is offering 7.883 million ordinary shares of its newly issued ordinary shares as a consideration for the saving shares. The financing of the tender offer was done by raising of new ordinary shares for which BPER shareholders had a meeting on July 4, 2019 and approved the issuance of new shares. BPER has reserved the right to delist Banco di Sardegna's shares through the mandatory conversion of saving shares to preferred shares. On the basis of the temporary results communicated by Equita SIM S.p.A. acting as intermediary appointed for the collection of acceptances, 2.708 million Saving Shares have been tendered to the Offer during the acceptance period ended today, corresponding to roughly 80.2% of the Saving Shares subject to the Offer. based on the temporary results of the Offer, BPER owns no. 5.929 million Saving Shares, corresponding to roughly 89.8% of the Issuer's corporate capital represented by Saving Shares. The consideration to be paid to each Adherent for each Saving Share tendered to the Offer, equal to 7 BPER Shares every 3 Saving Shares tendered to the Offer and, therefore, equal to 2.33 BPER Shares every 1 Saving Share, will be paid to the Adherents on the fifth Trading Day following the last day of the Acceptance Period, on December 20, 2019. The overall counter value of the remaining 10.2% of the Issuer's corporate capital represented by Saving Shares is equal to roughly €6.7 million. The tender offer is subject to antitrust regulation by CONSOB. As of November 14, 2019, the CONSOB antitrust body has approved the tender offer. The acceptance period of the offer is of the period from November 25, 2019 to December 13, 2019. The payment date decided in the offer document is December 20, 2019 unless extended.

Equita SIM S.p.A. acted as a financial advisor whereas, Legance - Avvocati Associati acted as a legal advisor to BPER Banca S.p.A.

BPER Banca S.p.A. (BIT:BPE) completed the acquisition of an additional 41.03% stake in Banco di Sardegna S.p.A. (BIT:BSRP) for €28.6 million on December 19, 2019.