Bank of Italy Clears ION’s Prelios Deal Paving Way for Purchase

The Bank of Italy approved ION Group’s purchase of Prelios SpA, clearing the last hurdle to the acquisition of the Italian asset manager by tycoon Andrea Pignataro.

Following an in-depth review including an analysis of the conglomerate’s capital and financial position in order to assess its capitalization, liquidity and debt level, the central bank decided to give its greenlight to the transactions, people familiar with the matter said, without giving additional details.

A spokesman for Ion, declined to comment. A Bank of Italy spokeswoman declined to comment. The central bank approval was earlier reported by Reuters.

Pignataro’s planned ...