Veneto Banca S.p.A. is seeking to sell its 71.4% stake in Banca Intermobiliare di Investimenti e Gestioni SpA (BIT:BIM). The move comes after the Italian government in late June began liquidation proceedings for Veneto Banca and Banca Popolare di Vicenza SpA. Under the deal, Intesa Sanpaolo SpA agreed to acquire certain assets of the two banks, while their bad loans and legal risks were transferred into a bad bank partly funded by the state. The Banca Intermobiliare stake is part of a series of assets that will be put up for sale on the market by special commissioners appointed by the Banca D'Italia SpA to facilitate the liquidation process.