June 4, 2019 / 6:43 AM / 3 months ago

Italy's BPER to raise up to 322 mln euros in shares, convertible bond

MILAN, June 4 (Reuters) - Italian lender BPER Banca plans to raise up to 172 million euros in shares and another 150 million euros in convertible tier-one bonds.

The bank said in a statement on Tuesday that the funds were earmarked for Fondazione di Sardegna.

BPER previously said it planned to take full control of its Banco di Sardegna unit in a deal involving a share swap and a 180 million euro payment that minority shareholder Fondazione di Sardegna would use to buy the new hybrid bond issued by BPER. (Reporting by Valentina Za Editing by Mark Bendeich)

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