IntesaBci, the top creditor in Italy, announced it will join with the Italian arm of investment bank Lazard in order to bolster its position in investment banking, according to The Deal. IntesaBci CEO Corrado Passera was quoted as saying his company is prepared to spend USD 300 million for a 40 percent stake in the Lazard subsidiary, and for a long-term subordinated note that would be convertible into a 3 percent equity interest in the LLC in the coming months. Passera disclosed the group’s aim ...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now