Banca IFIS S.p.A. (BIT:IF) agreed to acquire the remaining 10% stake in FBS SpA from minority shareholders Paolo Strocchi, Elena Paola Ruo and Giorgio Fedocci for €12.2 million on October 30, 2019. Paolo Strocchi and Elena Paola Ruo will cease to hold their respective positions as Directors, General Manager and Chief Executive Officer of FBS. The transaction, approved by the Board of Directors of Banca IFIS at a meeting, was subject to prior assessment by Banca IFIS’ Control and Risk Committee and Remuneration Committee. Banca IFIS S.p.A. (BIT:IF) completed the acquisition of 10% stake in FBS SpA from minority shareholders Paolo Strocchi, Elena Paola Ruo and Giorgio Fedocci on October 30, 2019. Giuseppe Rumi, Stefano Micheli, Vittoria Giustiniani, Antonella Negri and Giovanni Muzina of Bonelli Erede Pappalardo Studio Legale acted as legal advisor to Banca IFIS S.p.A. Daniele Bonvicini, Salvatore Sanzo, Luciano Castelli, Riccardo Sismondi and Ranieri Romani of LCA Studio Legale acted as legal advisor to Paolo Federico and Filippo Strocchi. Fabrizio Daverio of Daverio & Florio acted as legal advisor to Elena Paola Ruo.