[2] The foundation immediately sold about 52.25% shares of the company to an intermediate holding company Holding Casse Toscane (literally Tuscan saving banks), which was formed by the saving bank (Italian: Cassa di Risparmio) of Livorno, Florence, Lucca, Pisa, Pistoia & Pescia, San Miniato as well as Banca del Monte di Lucca.
At that time Casse del Tirreno owned 57.64% shares of CR Livorno SpA (the rest held by the foundation).
At the same time the foundation sold most of the shares of CR Lucca SpA (5.047%) to Banca Popolare di Lodi, for €65,826,356.44 (retained 0.68% only).
[9] The last annual report of CR Livorno SpA shown the bank had a shareholders equity of €293.480 million on 31 December 2005.
[10] Livorno Foundation, as of 31 December 2014, is the minority shareholders of Cassa Depositi e Prestiti (0.10%), CDP Reti (0.03%), Banco di Lucca e del Tirreno (10%), Enel, Intesa Sanpaolo, UniCredit, Terna Group, Hera Group, Snam, Électricité de France, Engie, Enagás and Atlantia.