Fondazione Cariprato

Cassa di Risparmio di Prato or Cariprato in short, is a former Italian regional bank based in Prato, Tuscany. It was acquired by Banca Popolare di Vicenza (BPVi) in 2003 and 2010 completely absorbed into the parent company.

The former owner of the bank, Fondazione Cariprato, as of 31 December 2013, still owned 0.5% shares of BPVi. However, in January 2015 the foundation also announced that they would diversify their investments by decrease the shares holding on one company.

Cassa di Risparmio di Prato was found in 1830 in the Grand Duchy of Tuscany, a year after the formation of Cassa di Risparmio di Firenze. The bank gained an independent status (part away from C.R. Firenze) on 13 October 1882. Cariparto was the first bank that bail-out by Fondo Interbancario di Tutela dei Depositi in 1988, which the bank was acquired by Banca Monte dei Paschi di Siena (Banca MPS).

In 1992, due to Legge Amato the bank was divided into società per azioni and Fondazione Cariprato. In 1995 a new company was formed, which the bank foundation only owned 21% shares. Banca MPS sold the controlling interests (79%) to Banca Popolare di Vicenza in March 2003 for €411.2 million. Due to 2010 complete takeover, the foundation gained about 0.5% shares of BPVi (347,459 number of shares of BPVi with €60.5 unit price, plus €33,378,513.5 cash for 13% Cariprato shares) as well as €33,440,000 for the remain 8%. The takeover also caused a minor conservatory, which the arts collection of Cariprato had moved to Vicenza instead of remained in Prato.

Fondazione Cassa di Risparmio di Prato or Fondazione Cariprato currently is a charity organization. The foundation failed to elect the board of director in 2013.

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Wikipedia