As part of the voluntary public takeover bid for the ordinary shares of Toscana Finanza S.p.A. which was originally announced on 9 July 2009 and subsequently modified following the agreements reached on 5 March 2010, Banca IFIS obtained authorisation from the Bank of Italy on 21 February 2011 pursuant to articles 53 and 67 of the Consolidated Banking Act, to purchase the majority stake in Toscana Finanza.

The objective of the offer is for Banca IFIS to purchase the entire share capital of Toscana Finanza at a cost of 1.50 Euro per share and the subsequent delisting of Toscana Finanza shares from the MTA Market.