Italy’s Carim says private equity firm eyeing controlling stake: Reuters

Italy’s Cassa di Risparmio di Rimini (Carim) said on Wednesday its board had granted access to its books to a private equity firm that offered to buy a controlling stake in the regional bank as it seeks to fill a capital gap.

Banca Carim, one of several Italian banks grappling with the fallout of a harsh recession in the country, said its capital ratios were below the requirements demanded by the Bank of Italy.

The bank’s core capital ratio stood at 6.91 percent at end-2016, below a minimum 7.80 percent threshold.

“The board has examined a (non binding) offer … by a private equity fund willing to inject capital in exchange for control of the bank … and has decided to grant a due diligence phase,” it said.

Banca Carim said it had also been in touch with a bank deposit guarantee fund – which can use voluntary contributions from lenders for bank rescues – over a possible capital injection.