Generali: towards a stake in Cattolica
(CercleFinance.com) - The Generali share is pretty flat in Milan on Thursday morning, after a first dipping slightly, after the Italian insurer announced the launch of a strategic partnership with its peer and compatriot Cattolica, in which it will take a 24.
4% stake in the capital.
The group will subscribe to a reserved capital increase of 300 million euros, representing an issue of 54 million Cattolica shares, subject to a change in Cattolica's status at an extraordinary general meeting scheduled for the end of July.
This equity investment will be accompanied by a multi-year commercial partnership agreement covering four business lines: asset management, Internet of Things, health insurance and reinsurance.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
4% stake in the capital.
The group will subscribe to a reserved capital increase of 300 million euros, representing an issue of 54 million Cattolica shares, subject to a change in Cattolica's status at an extraordinary general meeting scheduled for the end of July.
This equity investment will be accompanied by a multi-year commercial partnership agreement covering four business lines: asset management, Internet of Things, health insurance and reinsurance.
Copyright (c) 2020 CercleFinance.com. All rights reserved.