NewsEconomicsCivibank, Tar Lazio suspends offers until 31 May

Civibank, Tar Lazio suspends offers until 31 May


Following what was communicated to the public on 27 and 29 April and 5, 18 and 19 May 2022, the Banca di Cividale SpA – Benefit Company (“CiviBank” or the “Bank”) announces that today the chairman of Section II-quater of the Regional Administrative Court for Lazio accepted the appeal pursuant to art. 56 of the administrative process code proposed by the Bank yesterday, ordering the suspension of the effectiveness of the Consob provision that approved the document relating to the takeover bids promoted by the Cassa di Risparmio di Bolzano SpA – Südtiroler Sparkasse AG (” Sparkasse “and, overall, the” Offers “). This was announced by Civibank in a press release. “As foreseen by the same art. 56 of the administrative process code, the suspension – reads the note – was arranged until the next decision in the Council Chamber of the Tar, scheduled for May 31, 2022. Therefore, as also communicated on today from Sparkasse, until that date the collection of acceptances to the Offers is suspended and, consequently, the completion of the same “. The decision of the presidency of the Lazio TAR seems to me a decision of common sense, – says the president of Civibank Michela del Piero- as they will be able to wait for the evaluation of the TAR section of May 31st, without the effects and consequences that the conclusion of the tender offer would have entailed. I reiterate that these actions decided by Civibank are aimed at verifying compliance with the law by Sparkasse and the Foundation of the Cassa di Risparmio di Bolzano “.

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