Banca Ifis conquers GE Capital Interbanca in a 2 billion euros deal

Italy's Banca Ifis announced yesterday that it had singed an agreement with GE Capital to buy control of GE Capital Interbanca (download here the press release). The Italian bank, which is chaired by Mr. Sebastien Egon Fürstenberg and led by ceo Giovanni Bossi, will invest about 2 billion euros in the deal as Banca Ifis will pay to GE Capital 160 million euros for the bank while reimbursing all GE Capital Interbanca's debt to GE Capital which is expected to be 1.8 billion euros at the closing date, MF Milano Finanza writes today (while GE Capital Interbanca's debt was 2.3 billions at the end of 2015). The closing of the deal is subject to the go-ahead by the Supervision and Antitrust Authorities and is expected to be in Q4 2016