J.C. Flowers acquires Monte Paschi Banque
The carve-out gives the sponsor a French specialty lender with offices in Paris, Marseille, Nice, Lyon and southern France.
J.C. Flowers acquired Monte Paschi Banque, French bank offering mortgages, Lombard loans, asset-backed credit, deposit products, and working capital solutions.
The bank was carved out of Monte dei Paschi di Siena and operates offices in Paris, Marseille, Nice, Lyon and the south of France.
Terms were not disclosed.
Under its new ownership, the bank plans to build partnerships with independent financial advisors while serving existing real estate-owner and entrepreneur clients in France.
"J.C. Flowers is proud to be one of the few firms that has the operational and sector-specific skills, backed by a proven track record, to undertake a broad transformational bank turnaround that will reposition the Bank in the French market," said Ilinca Rosetti, Operating Partner of J.