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Mergers, Acquisitions, Alliances and Synergies Case Study
Case Title:
HVB's Merger with UniCredito : The Strategic Fit
Publication Year : 2005
Authors: Prakriti Chandan, Srinath Manda
Industry: Banking and Financial Services
Region: Italy
Case Code: MAA0048
Teaching Note: Not Available
Structured Assignment: Not Available
OR
Abstract:
UniCredito Italiano was formed in 1998 through the merger of seven local banks when the Italian banking sector was struggling to cut costs through consolidations. Having decided to expand into the Central and Eastern European markets, in June 2005, UniCredito acquired a German bank, HVB, marking the largest cross-border deal in European banking. After the acquisition, UniCredito's operations spanned across Europe with a market capitalisation of $51 billion. However, analysts opine that as Bayerische Hypo und Vereinsbank (HVB) has a track record of bad debts and corporate loans, the future of the merged bank is unpredictable.
Pedagogical Objectives:
- To discuss the out come of the merger of the two banking behemoths in Europe.
Keywords : Consolidation of the European banking; Mergers,Acquisitions,Alliances Case Study;Italian banking sector; German banking sector; Cross border mergers; Amato law; Anti-usury law; Banking law; Alessandro Profumo; Central and Eastern European banking; S3 Project of UniCredito; Bad debts of Bayerische Hypo und Vereinsbank (HVB); Expansion through acquisitions; Bank Austria; Bank Pekao
