Intesa Sanpaolo Bids for Spanish Private Bank Singular
Intesa Sanpaolo is bidding for Spain's Singular Bank as Warburg Pincus exits. The deal supports the Italian bank's plan to grow wealth management abroad.
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INTESA SANPAOLO is bidding for a 93% stake in Spain-based Singular Bank as United States fund Warburg Pincus exits. The deal is expected to be below €300 million. It marks a shift for Italy's largest bank toward capital-light wealth management growth outside its saturated domestic market.
