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MILAN (Reuters) – Banca Carige said on Saturday that the European Central Bank had extended until September 30 the tenure of three temporary directors who were appointed to head the troubled Italian bank.
The bank said the ECB wanted to give the three directors enough time to carry out the necessary actions for the bank to comply in a sustainable manner with the capital requirements.
The ECB also extended the mandate of a three-member supervisory board, the bank said.
Carige was placed under special administration early in the year after its main investor in December blocked a planned fundraiser, defeating a sector – financed bailout.
The bank said it needed to fill a capital gap of 630 million euros ($ 707.11 million) and that temporary administrators were looking for offers from potential buyers in mid-April .
Sources told Reuters that US funds Varde Partners and BlackRock intended to submit bids.
With the emergency measures approved in January as a result of the ECB decision, the Italian government is ready to inject up to 1 billion euros of capital into the bank here. the end of September if a private solution does not succeed.
(The story has been refiled to correct a typo in the last paragraph)
(Report by Valentina Za, edited by Andrew Heavens)
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