Intesa Sanpaolo Makes Health Insurance Play With EUR300 Million RBM Assicurazione Deal
20 Diciembre 2019 - 02:41AM
Noticias Dow Jones
By Carlo Martuscelli
Intesa Sanpaolo S.p.A. (ISP.MI) said Friday that it will buy a
50% plus one share stake in Italian health insurer RBM
Assicurazione Salute for 300 million euros ($333.7 million).
The Milan-listed lender said that the transaction is in line
with its objective of expanding in damages insurance. The combined
business will be called Intesa Sanpaolo RBM Salute, and will have a
20.8% share in the Italian health insurance market.
According to the agreement, Intesa will complete the first part
of the deal by July 2020. Then, between 2026 and 2029, it will
progressively acquire the rest of RBM at a price contingent on the
performance of the business.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
December 20, 2019 03:26 ET (08:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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