Banca Popolare di Sondrio S.C.p.A. (BIT:BPSO) signed an agreement to acquire 70.77% stake in Farbanca S.p.A. from Banca Popolare di Vicenza S.p.A. for €30 million on March 7, 2019. The acquisition price is €30 million, with a possible downward adjustment only on the basis of an economic outturn of Farbanca - in the first months of 2019 - which is lower than forecast or a significant increase in the stock of non-performing loans in the months prior to the completion of the transaction. At the time of signing, a percentage of the price, of 10%, was paid by BPS to LCA as a deposit. The completion of the acquisition is subject to issuing of the necessary legal authorizations by the competent authorities. As of June 12, 2019, Italian Antitrust Authority approved the transaction. Francesco Selogna, Giuseppe Velluto, and Pietro Vitale of Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisor for Banca Popolare di Vicenza S.p.A. while Giovanni Stefanin , Pietro Negroni and Giacomo Giancaspro of PWC TLS Associazione Professionale di Avvocati e Commercialisti acted as legal advisor for Banca Popolare di Sondrio S.C.p.A. Mediobanca Banca di Credito Finanziario S.p.A. acted as financial advisor for Banca Popolare di Vicenza S.p.A. while Gianluca Di Martino and Davide Arrigoni of PricewaterhouseCoopers Advisory S.p.A. acted as financial advisor for Banca Popolare di Sondrio. Banca Popolare di Sondrio S.C.p.A. (BIT:BPSO) cancelled the acquisition of 70.77% stake in Farbanca S.p.A. from Banca Popolare di Vicenza S.p.A. on February 26, 2020. The transaction is cancelled in agreement with the Higher Supervisory Authorities, in the light of the non-realization of the suspensive conditions of a regulatory nature, having regard to the need to give priority to the ongoing de risking initiatives and to the strengthening of the internal management structures.