The transformation of our business model, evolved from a holding company to a specialised financial operator, can now be considered complete. We transferred all non-strategic equity investments and the process was completed during the course of the 2016-2019 three-year plan: the Principal Investing division today essentially includes our 13% stake in Assicurazioni Generali.
The acquisitions strategy launched in June 2013 with the approval of the 2014-2016 plan represented a genuine strategic turning point, since Mediobanca has previously favoured internal growth. At the same time as the presentation of the 2016-2019 plan, we announced an agreement with the Mediolanum group for the purchase of the remaining 50% of Banca Esperia, which is incorporated in the growth strategy in the Wealth Management sector which has also seen us acquire a perimeter of retail activities of Barclays, Cairn Capital and Ram AI in Italy.
In April 2019, we tightened our long-term partnership with Messier Maris et Associés, one of the three leading French Corporate Finance boutiques, with an extensive and loyal national and international customer base. The transaction bolsters our presence in investment banking in France, the third core market after Italy and Spain.
Over the next 2019-2023 plan, we intend to continue our expansion also through targeted acquisitions of companies that can accelerate our growth in core activities, with a preference for businesses with low capital intensity and high commissions. When choosing potential target companies, we also consider cultural compatibility and the ethical business approach. The acquisitions respect the value creation criteria the group has always employed.
As a further step into the alternative asset management space, in February 2021 Cairn Capital, supported by Mediobanca S.p.A., has agreed terms for a strategic partnership with Bybrook Capital LLP, a specialist distressed credit manager based in London. The acquisition, followed by merger between the two entities, fulfils the ambition to create a leading diversified alternative credit manager across public, private, performing and distressed investment opportunities. It brings together a top performing leveraged loan and alternative credit franchise with an outstanding stressed/distressed and special situations business.
|3RD QUARTER OF 2020-2021|
|3RD QUARTER OF 2019-2020||COMPASS GIVES UP TO THE ACQUISITION ON 19.9% IN BFI|
|3RD QUARTER OF 2018-2019||MEDIOBANCA AND MESSIER MARIS TIGHTEN LONG-TERM STRATEGIC PARTNERSHIP|
|1ST QUARTER OF 2018-2019||19.9% STAKE IN BFI FINANCE ACQUIRED|
|2ND QUARTER OF 2017-2018||69% STAKE IN RAM ACQUIRED.|
|1ST QUARTER OF 2017-2018||SALE OF EQUITY INVESTMENT IN ATLANTIA|
|4TH QUARTER OF 2016-2017||SALE OF 2.7% OF ITALMOBILIARE|
|3RD QUARTER OF 2016-2017||SALE OF 5.1% OF KOENIG & BAUER|
|1ST QUARTER OF 2016-2017||FULL CONTROL OF BANCA ESPERIA ACQUIRED|
|1ST QUARTER OF 2016-2017||SPAFID, MEDIOBANCA GROUP COMPANY, ACQUIRES FIDER SRL, AN IMPORTANT MILAN TRUST COMPANY|
|1ST QUARTER OF 2016-2017||SALE OF 1.3% OF ATLANTIA|
|2ND QUARTER OF 2015-2016||ACQUISITION OF PERIMETER OF RETAIL ACTIVITIES OF BARCLAYS IN ITALY THROUGH CHEBANCA!|
|2ND QUARTER OF 2015-2016||SALE OF 3 MILLION IN SHARES OF ASSICURAZIONI GENERALI (EQUAL TO 0.22% OF THE SHARE CAPITAL)|
|2ND QUARTER OF 2015-2016||SALE OF EQUITY INVESTMENT (5.1%) IN EDIPOWER|
|1ST QUARTER OF 2015-2016||
SALE OF EQUITY INVESTMENT IN PIRELLI THROUGH THE TAKE-OVER BID TO THE OPA CARRIED OUT BY MARCO POLO INDUSTRIAL HOLDING
|5 AUGUST 2015||ACQUISITION OF CONTROL OF CAIRN CAPITAL GROUP LTD, ASSET MANAGEMENT AND ADVISORY COMPANY WITH REGISTERED OFFICE IN LONDON SPECIALISED IN CREDIT PRODUCTS|