The Monte dei Paschi di Siena Foundation and Banca Mps announce that a preliminary agreement has been reached regarding the out-of-court compensation claims relating to the Antonveneta acquisition and the 2011, 2014 and 2015 capital increases.
The agreement provides that MPS submits a settlement to the board of directors on 5 August on the accounts that definitively defines the dispute in relation to the payment of 150 million euros and commitments on the enhancement of the bank’s artistic assets. Thanks to the agreement, MPS reduces the compensation claims burdening the bank by € 3.8 billion.
The mayor of Siena: “No to a lower sale and employment protection”
Thus in a note the Municipality and the Mayor of Siena, Luigi De Mossi, after the announcement that the Monte dei Paschi di Siena Foundation and the Banca Mps have reached a preliminary agreement regarding the out-of-court compensation claims relating to the Antonveneta acquisition and the increases of capital in 2011, 2014 and 2015. “Following the press release that gave an account of the interlocution and the negotiation for the reimbursement of an indemnity in favor of the MPS Foundation by Banca Monte dei Paschi di Siena – we read in a note from the Municipality -, the municipal administration, which has recently insisted on its own, to obtain compensation, also through the open letter of last June 29, addressed to the Draghi government by the mayor Luigi De Mossi, requests that made a lower sale and that the employment and rights of employees, the relationship with the territory, the protection of the brand, the artistic heritage for which the Municipality has requested to be protected are extend the restriction to all assets, as well as the permanence of the executive offices in the place where the Bank was born ».