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Mediobanca SpA will acquire Banca Mediolanum SpA's 50% stake in jointly owned Banca Esperia SpA for [euro]141 million, it said Nov. 17.
The acquisition of the Italian private bank, announced alongside a strategic plan running through mid-2019, will be completed by the second quarter of 2017, CEO Alberto Nagel said, according to Reuters. The consideration will be paid in cash at closing, and the deal is subject to regulatory approval.
Mediobanca also plans to reduce...