Generali Sells Shares in Two Subsidiaries
19 Julio 2018 - 2:11AM
Noticias Dow Jones
By Donato Paolo Mancini
Assicurazioni Generali SpA (G.MI) has agreed to enter a
share-purchase agreement with Life Company Consolidation Group to
sell Generali's entire shareholding in two of its subsidiaries, the
company said Thursday.
Generali will sell its shares in Generali Worldwide Insurance
Company Ltd. and Generali Link. The former contributed about 35
million euros ($41 million) to Generali's operating result last
year and is based in Guernsey, where it offers life insurance-based
wealth management. The latter is located in Ireland.
The move is part of the company's effort to optimize its
geographical footprint, the company said.
Generali will receive EUR409 million in base consideration for
the sale of its stakes. It may additionally receive up to EUR10
million of contingent consideration, to be paid at completion.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com
(END) Dow Jones Newswires
July 19, 2018 02:56 ET (06:56 GMT)
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