Fondazione Cassa di Risparmio di Torino (Fondazione CRT) is a
charity organization formed in 1991 by the spin off of the bank activities
Cassa di Risparmio di Torino into Banca CRT S.p.A. (a limited company), with the original
statutory corporation
A statutory corporation is a government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, thus, they are statutes owned by a government or controlled by national or sub-national government to the (in ...
became Fondazione CRT. The foundation was the major shareholders of Banca CRT S.p.A..
Organization
Since the bank became a member of
UniCredito, the foundation held the shares of UniCredito instead. UniCredito merged with
Credito Italiano in 1998. In 1999 the foundation held 704,943,077 of 4,954,465,306 total ordinary shares (14.228%) of UniCredit (called UniCredito Italiano at that time), which was diluted to 14.092% in 2000, 14.029% in 2001, 11.235% in 2002 due to issue of new shares of UniCredit. Despite number of shares held decreased in the financial year 2003, the foundation became the largest shareholder of 8.741%, which the total issued ordinary shares of UniCredit had increased to 6,294,629,600. In the next year the foundation returned to second largest shareholder with 8.713% of 6,336,709,283 the ordinary shares, as well as
Fondazione Cariverona Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, also known as Fondazione Cariverona is an Italian banking foundation based in Verona, Veneto region. The foundation was created in 1991.
History
Due to the , a law that required ba ...
returned as the largest one. In 2005 once again the number of total shares were changed (to 10,368,848,154), which the foundation was the second largest shareholder of 4.743%, behind
Munich Re Group
Munich Re Group or Munich Reinsurance Company (german: Münchener Rück; Münchener Rückversicherungs-Gesellschaft) is a German multinational insurance company based in Munich, Germany. It is one of the world's leading reinsurers. ERGO, a Muni ...
. Upon the merger with
Capitalia in 2007, the Turin-based foundation was the third largest shareholder of 3.69%.
On 31 December 2006 the foundation had 491,744,753 number of shares UniCredit
and 5,145,125 number of shares in
Société Générale respectively,
[ representing 4.721% (out of total 10,416,544,981) as the second largest shareholder of UniCredit. On 30 June 2006 Société Générale had 434,700,901 shares, a ]treasury stock
A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings).
Stock repurchases are used as a tax efficient ...
of 20,535,404, as well as an equity of €29 billion, thus the foundation held about 1% of Société Générale's shares in open market,[
The foundation also had a minority shareholding in Cassa Depositi e Prestiti.
]
References
External links
Fondazione CRT
{{Authority control
1991 establishments in Italy
Organizations established in 1991
UniCredit Group
Banking foundations based in Italy
Organisations based in Turin