History
Bank investments
Due to Legge Amato, Cassa di Risparmio di Piacenza e Vigevano spin off its bank activities to form a limited company ( Società per Azioni ) in December 1991 (gazetted on 21 January 1992). [1] The original public entity was renamed into Fondazione Cassa di Risparmio di Piacenza e Vigevano.
Cassa di Risparmio di Piacenza e Vigevano was an Italian savings bank based in Piacenza, Emilia-Romagna, as well as a second office in Vigevano, Lombardy. Despite the bank ceased to be exist, the former owner of the bank still operated as a charity organization.
The bank was merged with Cassa di Risparmio di Parma to form Cassa di Risparmio di Parma e Piacenza in 1992. [2] The bank was acquired by Banca Intesa, which the foundation became a minority shareholders for 0.131% as at 31 December 2000. [3] The ratio increased to 0.15% in 2001, [4] diluted to 0.146% in 2002. [5] In 2003 the foundation sold all the remain shares as well as bought a minority interests on Cassa Depositi e Prestiti (0.43%) and Banca Popolare di Sondrio (0.05%). [6]
Banca Intesa S.p.A. was an Italian banking group. It was formed in 1998. In the next year the banking group merged with another bank Banca Commerciale Italiana to became IntesaBCi. However, the name of the group was reverted to Banca Intesa in 2003. In 2007 Banca Intesa merged with another banking group Sanpaolo IMI to become Intesa Sanpaolo, one of few domestic systemically important bank of Italy.
Cassa Depositi e Prestiti is a prominent Italian investment bank founded in 1850 in Turin; it is among the founders of the Long-Term Investors Club, a group that gather 18 major financial institutions and institutional investors from all over the world mainly from G20 countries. After the unification of Italy, in 1863 it was restructured and the headquarters moved to Rome; it was constituted in its current form as a joint-stock company on 12 December 2003. 83% of the share capital is owned by the Italian Ministry of Economy and Finance, the 16% is held by various banking foundations, while the remaining 1% in treasury shares. CDP is today the third largest Italian bank according to the value of the total assets owned by the group.
Banca Popolare di Sondrio S.C.p.A. (BPSO) is an Italian bank based in Sondrio, Lombardy. The company was included in FTSE Italia Mid Cap Index.
The foundation was a minority shareholder of FarBanca until 2004. In 2008 the foundation bought 15% minority ownership of Banca Monte Parma from Banca Monte dei Paschi di Siena, thus returned to banking sector to partner with the major shareholder of the bank, Fondazione Monteparma. In 2009 the ownership ratio increased to 18%. [7] However, due to the net loss of the bank, the foundations agreed to sell the bank to Intesa Sanpaolo in 2011 with Intesa bore most of the amount of capital increase of the bank. On 22 December 2014 the foundation did not hold any shares on the bank any more.
Banca Monte Parma was an Italian regional bank, active in the provinces of Parma, Piacenza and Reggio-Emilia. In mid-2015 it was absorbed into the parent company.
Banca Monte dei Paschi di Siena S.p.A., known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 and founded in its present form in 1624, it is the world's oldest or second oldest bank, depending on the definition, and the fourth largest Italian commercial and retail bank.
Intesa Sanpaolo S.p.A. is an Italian banking group resulting from the merger of Banca Intesa and Sanpaolo IMI based in Torre Intesa Sanpaolo, Turin, Italy. In 2014 it was the largest banking group in Italy by market capitalization, and second by total assets. The bank has also experienced growth in the international market, focused in Central-Eastern Europe, the Middle East and North Africa.
Other investments
In 2004 the foundation expanded its investment on stock markets from €26,445,087.90 to €68,088,478.60, including increase in investments on Banca Popolare di Sondrio (0.12% ownership), as well as Aeroterminal Venezia (3.79% ownership), Enel (0.02% ownership), Eni (0.003% ownership), Assicurazioni Generali (0.004% ownership), RAS Assicurazioni (0.02% ownership), Snam Rete Gas (0.03% ownership), Sanpaolo IMI (0.004% ownership), UniCredit (0.008% ownership) and STMicroelectronics (0.11% ownership), [8] despite in the next year the interests in Banca Popolare di Sondrio, Eni, Generali, RAS, Snam, Sanpaolo IMI, UniCredit and STMicroelectronics were sold in exchange with the increase in the interests in Enel to 0.08% (decreased to 0.06% next year and remain in the same level as of 2013). [9] The foundation invested on Notrine S.A. in 2006 (for 15% shares). [10] In 2007 the foundation invested on Enìa (0.37% of the total shares). [11] In 2008 as well as the investment in Banca Monte Parma, the ownership in Aereoterminal Venezia was also decreased to 3.29% of the total shares. [12] In 2010 the foundation invested in First Capital SpA for 2% shares. [13]
Enel, or the Enel Group, is an Italian multinational energy company that is active in the sectors of electricity generation and distribution, as well as in the distribution of natural gas.
Eni S.p.A. is an Italian multinational oil and gas company headquartered in Rome. Considered one of the global supermajors, it has operations in 79 countries, and is currently world's 11th largest industrial company with a market capitalization of 68 billion euros, as of August 14, 2013. The Italian government owns a 30.303% golden share in the company, 3.934% held through the state Treasury and 26.369% held through the Cassa Depositi e Prestiti. Another 2.012% of the shares are held by the People's Bank of China. The company is a component of the Euro Stoxx 50 stock market index.
Assicurazioni Generali S.p.A. or simply Generali is an Italian insurance company, the largest in Italy and third in the world. It has its headquarters in Trieste. In 2010, Assicurazioni Generali Group was the second largest insurance group in the world by revenue after AXA.
As of 31 December 2013 the foundation had an equity of €347 million. [14]
In 2014 a scandal was exposed for the mismanagement of the investment of the foundation. [15]
