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Fund CRC presents an offer for Carige's consumer credit unit - source
November 22, 2017 / 9:22 AM / a month ago

Fund CRC presents an offer for Carige's consumer credit unit - source

MILAN (Reuters) - U.S. hedge fund Christofferson Robb & Company (CRC) has presented an offer to buy Banca Carige’s (CRGI.MI) consumer credit unit Creditis, a source familiar with the matter said on Wednesday.

    The bank, which is selling assets and on Wednesday launched a 560 million euros capital increase to strengthen its balance sheet, must accept the offer by Wednesday and close the sale by Dec. 6, according to the prospectus for the capital increase.

    Accepting the offer is a key condition for CRC to take on unsold shares in the capital increase under an existing accord with broker Equita.

    Reporting by Massimo Gaia, editing by Silvia Aloisi

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