(Alliance News) - Delfin, the holding company of the Del Vecchio family, has increased its stake in Monte dei Paschi di Siena from 3.5 percent to 9.8 percent, becoming the largest private shareholder, Il Corriere della Sera wrote Friday.
The purchase of a 6.3 percent stake, or about EUR500 million, brings the total investment to about EUR800 million.
As Il Corriere continues, this move fits into Delfin's strategy of balancing industrial and financial investments. The goal seems to be to strengthen its position in the bank and influence its governance.
In recent months, the state has reduced its stake in MPS from 64.2 percent to 11.7 percent, while new private investors, such as the Caltagirone group, have increased their holdings.
Delfin, after initially buying 3.5 percent in November, increased its stake through a derivative transaction managed by Natixis. With a dividend of EUR1.1 billion in 2023, largely from Mediobanca, Generali, and UniCredit, Delfin places itself at the center of the banking resurgence, the newspaper reports.
On the board of directors, after the resignation of five members, Delfin appointed Barbara Tadolini, while the Caltagirone group named two representatives. The board will be renewed in 2026, with both groups ready to play a greater role.
Other private shareholders, such as Banco BPM and Anima Holding, have also increased their stakes.
Meanwhile, MPS continues to work on strategic projects, such as green investments in the agricultural sector, in collaboration with Coldiretti and the Italian Biogas Consortium.
By Claudia Cavaliere, Alliance News reporter
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