Intesa Sanpaolo Makes Health Insurance Play With RBM Assicurazione Deal -- Update
20 Diciembre 2019 - 3:29AM
Noticias Dow Jones
(Adds acquirer detail.)
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 deal will be executed through the Milan-listed lender's
wholly-owned subsidiary, Intesa Sanpaolo Vita.
The company 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 04:14 ET (09:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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