Bonelli Erede Pappalardo and Pedersoli & Associati have scooped the lead roles advising on BNP Paribas’ 9bn (£6.16bn) bid for Italian financial giant BNL, in the second major foreign deal in the past year involving the notoriously restrictive Italian banking sector.
The deal sees France-based BNP formalise conditional agreements with 13 shareholders of BNL, after agreeing to pick up major shareholder Unipol’s direct and indirect interest – representing 1,467.6m BNL shares and 48% of the banks total shares – for 2.925 (£1.99) per share.
