News
Warburg Pincus Completes the Acquisition of BMPB, the Belgian Subsidiary Bank of Banca Monte Dei Paschi di Siena Jun 14, 2019
Belgium and London, Friday, 14 June 2019 - Warburg Pincus, the global growth investor, has received the required approvals from the National Bank of Belgium and the European Central Bank to complete the acquisition of Banca Monte Paschi Belgio (BMPB), the Belgian banking subsidiary of Banca Monte dei Paschi di Siena (MPS). The acquisition was first announced on 5th October 2018.
Peter Deming, Managing Director of Warburg Pincus commented: “We are excited to work with the management of BMPB to deliver an innovative, new proposition for the Bank’s loyal customer base. We are growth investors with a deep knowledge of the financial services sector and believe that we can bring our knowledge to bear as we lead the business through a new phase of transformative growth”.
Warburg Pincus is one of the oldest and most established global private equity firms, with more than $58 billion in private equity assets under management. The firm has a successful history of investing in growth areas of the financial services sector and has invested over $11 billion in more than 100 financial services companies, including 21 regulated banking institutions. Warburg Pincus has also made further investments in asset management, insurance, specialty finance, payment and transaction processing firms in countries across the world.
The bank is subject to Belgian regulations and Belgian financial supervision.
About Warburg Pincus:
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds, which have invested more than $74 billion in over 860 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.
Enquiries: Julie Foster +44 (0) 7471 992907