Generali: two acquisitions in Portugal
(CercleFinance.com) - Italian insurer Generali said on Friday it had acquired two companies in Portugal to strengthen its position in the country.
Generali said it has paid 510 million euros for Seguradoras Unidas, the second largest non-life business operator in Portugal, and 90 million euros for AdvanceCare, a service platform for the healthcare sector.
After the acquisition of Seguradoras Unidas, Generali will become the second largest group in the Portuguese non-life segment, with a market share of 18.7%, the group said.
Generali said that the move represents an "important step" in the execution of the group's three-year strategy which aims to strengthen its leadership in Europe.
Paris-based analysts Oddo have welcomed this transaction, saying it is "coherent" with the strategy of the group, which generates significant cash-flow, enabling it to self-finance this type of external growth operations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Generali said it has paid 510 million euros for Seguradoras Unidas, the second largest non-life business operator in Portugal, and 90 million euros for AdvanceCare, a service platform for the healthcare sector.
After the acquisition of Seguradoras Unidas, Generali will become the second largest group in the Portuguese non-life segment, with a market share of 18.7%, the group said.
Generali said that the move represents an "important step" in the execution of the group's three-year strategy which aims to strengthen its leadership in Europe.
Paris-based analysts Oddo have welcomed this transaction, saying it is "coherent" with the strategy of the group, which generates significant cash-flow, enabling it to self-finance this type of external growth operations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.