`Unipol Merchant – Banca per le Imprese SpA` authorized to be the

‘Unipol Merchant – Banca per le Imprese SpA’ authorized to be the new bank in
the Unipol Group specializing in merchant banking and in granting medium- and
long-term loans to businesses – Control of the company taken over by Unipol
Banca – Accounts for the half-year ended 30 June 2003, which closed with a net
profit of €2.128m, approved by the Board of Unipol Merchant.
The Unipol Group is expanding its presence and the range of products it offers in the
credit banking sector. In fact, within the last few days the Banca d’Italia has
authorized ‘Unipol Merchant – Banca per le Imprese SpA’, which evolved from
Unipol Merchant, a company in which the Unipol Group was already the majority
shareholder and which operated exclusively in the field of merchant banking, to grant
loans. Following authorization from the Supervisory Authority the new Bank came
under the control of Unipol Banca (which owns 50.36%). It will combine granting
medium- and long-term loans to businesses with the activities it currently carries out
in the field of merchant banking and investment banking, thus becoming the Unipol
Banca Banking Group’s specialist Bank in the corporate sector.
Guarantees that this process of integration will be successful and that the two banks
in the Group will complement each other will be provided by Unipol Banca’s
network of branches (188 throughout Italy at the end of 2003), the channel through
which the products and services of Unipol Merchant – Banca per le Imprese will be
sold to client companies.
At its meeting held on 29 September 2003 Unipol Merchant’s Board of Directors
expressed pleasure that authorization to carry out banking business had been obtained
since this opens the way for the company to grow and develop further, and also
approved the accounts for the half-year ended 30 June 2003, which closed with a net
profit of €2.128m.
Amongst the principal operations carried out by Unipol Merchant during the first half
of 2003 the following should be mentioned:
- direct investing in the multiutilities Hera and Meta, the only IPOs in 2003; Unipol
Merchant took part in their underwriting syndicates as Lead Manager. (It should
be pointed out that in the case of Hera Unipol Merchant’s rôle was also that of
financial adviser to the company and to the members);
- acting as financial adviser to Immobiliare Grande Distribuzione (IGD) to assist it
in its plan to be listed on the Stock Exchange;
- acting as financial adviser, together with Mediobanca, to Unipol Assicurazioni
during its operation to acquire the Winterthur Italia Group;
- acting as Co-Arranger in placing Unipol Assicurazioni’s subordinated bond for
€300m;
- acting as Co-Lead-Manager and Co-Arranger in placing Grecale/Unipol Banca’s
securitization amounting to €202m;
- acting as financial adviser to Coop Adriatica during its operation to acquire the
VIP chain of supermarkets.
In July 2003 Unipol Merchant also subscribed the Convertible Bonded Loan of €12m
issued by Sangemini, the company that markets the water of the same name and the
Fiuggi, Tavina and Fabia brands, with the aim of assisting the company to obtain a
listing on the Stock Exchange by 2008.
Amongst current operations mention should be made of:
- participating in and acting as financial adviser to a combine of companies
coordinated by CAMST that are responding to Bolognafiere’s call for tenders to
identify new private shareholders;
- acting as financial adviser to the multiutility Meta Modena for the process of
tendering for privatizing Agea Ferrara.
In order to be able to carry out its demanding plans for future activities, Unipol
Merchant – Banca per le Imprese will, during the current year, increase its share
capital in order to bring the company’s capital and reserves up from €74.2m to
€112.9m.
Unipol Merchant
Banca per le Imprese SpA
Unipol Banca Banking Group
Bologna, 30 September 2003