Cassa di Risparmio di Carrara S.p.A. was an Italian saving bank based in Carrara, Tuscany. The bank was absorbed by the parent company

Banca Carige Banca Carige S.p.A., historically known as Cassa di Risparmio di Genova e Imperia (Ca.Ri.Ge.) was an Italian bank based in Genoa, with more than 500 bank branches in Italy, prior to its acquisition by BPER Banca in February 2022. The predecess ...

in 2015.

History

Cassa di Risparmio di Carrara was found in 1843 in Carrara in the

Duchy of Modena and Reggio The Duchy of Modena and Reggio (; ; ) was an Italian state created in 1452 located in Northern Italy, Northwestern Italy, in the present day region of Emilia-Romagna. It was ruled since its establishment by the noble House of Este, and from 1814 ...

. In 1992 the

statutory corporation A statutory corporation is a corporation, government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, but they are corporations owned by a government or controlled by national or sub-national government ...

was split into a limited company () and Fondazione Cassa di Risparmio di Carrara (a banking foundation). At that time the banking foundation owned 66.67% stake of the company, with the rest was owned by

Cassa di Risparmio delle Provincie Lombarde Cassa di Risparmio delle Provincie Lombarde, known in shorthand as Cariplo SpA, was an Italian bank founded in 1823. On 2 January 1998, it merged with Banco Ambrosiano Veneto to form Banca Intesa. Cariplo SpA became a short-lived sub-holding comp ...

(Cariplo). In 1995, a sub-holding company "Carinord Holding" was formed, which Cariplo was the significant shareholder for 30.93% stake, in turn the holding owned 90% stake of CR Carrara. The holding also owned the saving bank in

Alessandria Alessandria (; ) is a city and commune in Piedmont, Italy, and the capital of the Province of Alessandria. It is also the largest municipality of the region. The city is sited on the alluvial plain between the Tanaro and the Bormida rivers, ...

(50% + 1 share) and

Spezia La Spezia (, or ; ; , in the local ) is the capital city of the province of La Spezia and is located at the head of the Gulf of La Spezia in the southern part of the Liguria region of Italy. La Spezia is the second-largest city in the Liguri ...

(68.19%). In 1998 Cariplo became part of

Banca Intesa Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become ...

. In 2002 Carinord was split into Carinord 1 and Carinord 2; CR Alessandria was owned by Carinord 1 S.p.A. and Carispezia and CAR Carrara were owned by Carinord 2. As at 31 December 2002, Banca Intesa owned 41.14% stake in Carinord 2 S.p.A. , with the banking foundations of Carispezia and CR Carrara remained as the minority shareholders of the sub-holding. In 2003 CR Carrara and Carispezia were acquired by

and Banca CR Firenze respectively. Carige acquired about 43.49% stake in Carinord 2 from Intesa (16.46% for €46 million) and the banking foundation of CR Carrara (27.03%) for €183,764,644 in total (with 5,192,231 shares or 2.44% stake of Carinord 2 was re-sold to Banca CR Firenze for €10,301,778 in the eve of demerger). In April 2004 Carinord 2 was demerged and Caricarrara Holding S.p.A. was created, making the 90% stake of the saving bank cost Carige about €173 million. As at 31 December 2014, the banking foundation still owned 10% of the saving bank, as well as 0.679% stake in Banca Carige. In 2015

absorbed CR Carrara and sister companies Cassa di Risparmio di Savona and Columbus Carige Immobiliare. Carige purchased the remaining 10% stake by issuing new shares of Carige.

Foundation

After spin off the banking activities, the original entity of the bank became Fondazione Cassa di Risparmio di Carrara. As at 31 December 2015, the foundation had a net assets of €109 million. It is a minority shareholder of

and

Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A., also known as CDP S.p.A., is a prominent Italian development bank founded on November 20, 1850, in Turin. Its original duty was to finance public works like roads and waterworks during the reign of Victor Emman ...

for 1.17% and 0.019% respectively. The foundation also signed a

shareholders' agreement A shareholders' agreement (sometimes referred to in the U.S. as a stockholders' agreement) (SHA) is an enforceable agreement amongst the shareholders or members of a company. In practical effect, it is analogous to a partnership agreement. There ...

with Fondazione Cassa di Risparmio di Savona, Coop Liguria and Talea Società di Gestione Immobiliare for a total of 4.17% shares.

References

External links

* {{Authority control Defunct banks of Italy Companies based in Tuscany Carrara 1843 establishments in the Duchy of Modena and Reggio Banks established in 1843 2015 disestablishments in Italy Banks disestablished in 2015 Cariplo acquisitions Banca Carige