Prime Minister Giorgia Meloni’s government has sold a minority stake in Banca Monte dei Paschi di Siena SpA to several Italian firms, including Banco BPM SpA, in a bid to strengthen the Italian ownership of the world’s oldest bank. Banco BPM, based in Milan, purchased a 5% stake, while Anima Holding SpA acquired 3%, increasing its total ownership to about 4%. Additionally, Caltagirone Group and the Del Vecchio family each bought 3.5%, raising Italy’s total sale earnings to approximately €1.1 billion ($1.2 billion) for a combined 15% stake.
This consolidation move follows UniCredit SpA’s recent acquisition of a stake in Germany’s Commerzbank and Banco BPM’s €1.6 billion bid for Anima, where it already holds a 22% interest.
The restructuring of Monte Paschi, which started with a nationalization in 2017, represents a major milestone for Meloni’s administration. Finance Minister Giancarlo Giorgetti, highlighting the sale’s success, stated that this Italian-centered deal strengthens the shareholder base and provides much-needed funds to reduce Italy’s debt. The government aims to sell additional shares by year-end.
An initial 25% sale in 2023 brought in €920 million ($973 million), followed by another 12.5% sale in March, raising €650 million. Banco BPM, for its part, announced that it would not seek regulatory approval to increase its stake beyond 10%.