Gruppo Bancario Casse Emiliano Romagnole (CAER) was an Italian holding company and banking group, based in Bologna, Emilia-Romagna.The main company of the group was Cassa di Risparmio in Bologna (Carisbo).
History
Due to Legge Amato, all saving bank of Italy had to transform into a company limited by shares and a banking foundation.The foundation of Cassa di Risparmio in Bologna (Fondazione Carisbo), formed Casse Emiliano Romagnole (CAER) as their sub-holding company for their own bank (81.08%),[1] as well as participated in the ownership of the saving bank of Carpi (20%),[2]Cento (20%),[3]
In 1994 Credito Romagnolo offered to the public to acquire all the shares of CAER by giving the new shares of Credito Romagnolo.[12] However, the bid was not accepted.Credito Romagnolo became part of Credito Italiano in 1995.
Alliance with Unipol Assicurazioni
In 1995 Unipol Assicurazioni became the new minority shareholders, which acquired 3.64% shares from Fondazione Carisbo.In turn, CAER acquired 9.80% shares of Unipol's parent company, Finsoe, as well as increased the ownership in Banca dell'Economia Cooperativa (from 12% through Carisbo only in 1993 to 19.99% through direct and indirect ownership from 1995 to 1997).Moreover, through Carisbo's subsidiary Fincaer, the group acquired a minority interests in UniSalute (9.9%), Noricum Assicurazioni (34%) in 1995[11] and Linear Assicurazioni (20%) in 1996.However, CAER did not participated in the capital increases of Unipol Banca in January 1999, as well as selling their shares in UniSalute and Linear Assicurazioni to Unipol in 2001, as Cardine Banca. The shares of Finsoe and in the bank was also disposed in the same year.
Expansion and withdrew
In 1996 CAER acquired 35.2% shares of Banca Agricola di Gorizia.[13][14] In 1997, the minority interests of CR Cento (19.35%) and CR Imola (17.48%) were sold back to their bank foundation.[15] The foundations also withdrew as a shareholders of CAER. Foundation Carisbo also acquired the shares from the foundations of Faenza, Lugo and Carpi as well CAER issues new shares to Unipol. After the deals CAER only owned by Foundation Caribso (91.56%), Foundation CR Carpi (1.37%), Foundation CRBM Lugo (0.46%) and Unipol (6.61%) in January 1998. In 1997 through Carisbo (47.08%) and direct ownership 5%, Banca Popolare dell'Adriatico was acquired (52.08%), but Banca di Romagna was sold.[16]
In the wake of merger
In 1999 CAER issued new shares for the minority owners of Caribso, which the company became a wholly owned subsidiary of CAER. After the deal Foundation Carisbo owned 72.27% shares, Foundation CR Carpi owned 1.03%, Unipol owned 4.55% and the rest were owned by private citizens; Foundation CRBM Lugo also sold their shares.
As at 31 December 1999, CAER was the direct holding company :
On 1 February 2000 CAER merged with Casse Venete Banca to form Cardine Banca.
10.Gruppo Bancario Casse Emiliano Romagnole S.p.A. bilancio (financial report and accounts) on 31 December 1993, PDF purchased from Italian C.C.I.A.A. (in Italian)^
11.Gruppo Bancario Casse Emiliano Romagnole S.p.A. bilancio (financial report and accounts) on 31 December 1995, PDF purchased from Italian C.C.I.A.A. (in Italian)^
13.Gruppo Bancario Casse Emiliano Romagnole S.p.A. bilancio (financial report and accounts) on 31 December 1996, PDF purchased from Italian C.C.I.A.A. (in Italian)^
16.Gruppo Bancario Casse Emiliano Romagnole S.p.A. bilancio (financial report and accounts) on 31 December 1997, PDF purchased from Italian C.C.I.A.A. (in Italian)^
