the major shareholder of the new entity, Crédit Agricole, parted away from Intesa Sanpaolo by decreasing its share holding, as well as increased the participation in Italy directly by acquiring Cariparma and FriulAdria from Intesa Sanpaolo, as well as an additional 202 former Banca Intesa branches. After a complex transaction, FriulAdria major shareholder was Cariparma, for 78.68% shares, which in turn Crédit Agricole S.A. indirectly controlling 59.01% interests on FriulAdria. FriulAdria received 29 branches out of aforementioned 202. The disinvestment was also a prevention of a monopoly market share, as stated by the Italian Competition Authority (AGCM), due to the extensive network of Cassa di Risparmio del Friuli Venezia Giulia (ex-C.R. Udine and C.R. Gorizia), a former Sanpaolo IMI subsidiary and now Intesa Sanpaolo. In 2011, Crédit Agricole further withdrew from Intesa Sanpaolo Group, as well as acquiring 96 branches from it. FriulAdria received 15 out of 96. As of 2013, FriulAdria had 199 branches. In April 2015, the General Management was hired by Dr. Roberto Ghisellini from Carispezia. Since 2018, the new General Manager is Carlo Piana. See also Cassa di Risparmio del Friuli Venezia Giulia, a Friuli Venezia Giulia based subsidiary of Intesa Sanpaolo Banca Popolare di Cividale, a Friuli Venezia Giulia based cooperative bank Banca Mediocredito del Friuli Venezia Giulia, a Friuli Venezia Giulia based commercial bank Cassa di Risparmio di Trieste, a defunct subsidiary of UniCredit which based in Friuli – Venezia Giulia Banca Popolare Udinese, a defunct subsidiary of Banca Popolare di Vicenza which based in Friuli – Venezia Giulia Banca dell'Adriatico, a defunct subsidiary of Intesa Sanpaolo, based in Marche region Banca Adriatica, a defunct subsidiary of UBI Banca, based in Marche region References External links Old website Banks established in 1911 Italian companies established in 1911 Banks of Italy Companies based in Friuli-Venezia Giulia Crédit Agricole subsidiaries Former Intesa Sanpaolo subsidiaries Banca Intesa acquisitions Former cooperative banks of Italy