Italy's Intesa becomes banking partner of Atalanta after acquisition of UBI
September 29, 2020
Finance

Italy’s Intesa becomes banking partner of Atalanta after acquisition of UBI

MILAN (ITALY) – Italian bank Intesa Sanpaolo announced on Monday that it has become the banking partner of Serie A soccer club Atalanta BC, which is based in Bergamo, after taking over rival UBI Banca.

The club is the only Italian team left in the Champions League tournament. The announcement from Intesa comes ahead of Wednesday’s quarter-final against St Germain FC of Paris.

The acquisition was fiercely opposed by UBI’s management and local shareholders. After the takeover, Intesa has become the eighth largest bank in the European zone in terms of assets.

Intesa said in a statement that it was partly financing a 40 million euro (36 million pounds) investment to revamp Bergamo’s Gewiss stadium.

(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field

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