The English fund Dsq has renewed its bid for Smart Bank, the former Banca del Sud, which was placed under administration by Bankitalia in December 2023. The offer is 10 milioni di euro, but this time it will be evaluated by the liquidators, Giustino Di Cecco and Maria Rita Schiera, rather than the previous commissioners.
The liquidators will also consider a competing offer from Popolare del Cassinate, a Lazio-based bank, which is si aggira sui 3 milioni. Rumors suggest a third party may also be interested, though Buffetti is mentioned as a potential party but without a specified offer.
The outcome of a legal challenge by Cirdan Group, Smart Bank’s parent company, could significantly impact the sale. The sentence should be corrected to avoid a comma splice: “The outcome of a legal challenge by Cirdan Group, Smart Bank’s parent company, could significantly impact the sale, as Cirdan’s shareholders, Antonio De Negri and Benedetta Arese Lucini, have appealed to the Tar del Lazio against the compulsory liquidation ordered by the Ministry of Economy and Finance on Bankitalia’s recommendation. They argue the move was designed to exclude them from the sale process, favoring the higher bid.”
In July, the Tar del Lazio suspended the liquidation in via provvisoria, but a final decision is expected in late October.
This development adds another chapter to Smart Bank‘s long-running saga. The bank’s administration was extended for a fourth time in June, now running until January 2027, to allow for the completion of all necessary procedures.
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