Global law firm Hogan Lovells has advised Banca di Credito Peloritano (“BCP”) on the reverse merger by absorption of Tyche, a financial intermediary specializing in the pro soluto purchase and subsequent recovery of non-performing loans, from companies under insolvency proceeding (NPLs), which led to the creation of the new banking entity “Tyche Bank”.
The transaction follows the signing of an articulated merger agreement, the execution of an increase in BCP’s capital, the purchase by Tyche of a controlling stake in BCP (with subscription of part of BCP’s capital increase and the purchase of shares from the incumbent shareholders), and the issuance of the required regional, national and European authorizations. The shareholders’ meetings of BCP and Tyche resolved favourably to the merger on 9 June 2024.
The Hogan Lovells team that advised BCP, its corporate bodies and officers and a grouping of majority shareholders, in all phases of the deal, on the corporate, regulatory and contractual aspects of the transaction was led by country managing partner Patrizio Messina together with partner Paola Barometro and included senior associate Federico Urbani and associate Edoardo Pea.
