Banco Bpm and Cattolica Assicurazioni have signed an agreement for the sale of a majority stake in Avivapop Assicurazioni and Popolare Vita and the launch of a partnership in life and non-life bancassurance for 15 years. In detail, reads a note, they reached an agreement for the sale of 65% of Avipop Assicurazioni and Popolare Vita to Cattolica for a total price of 853,4 million euro.
The operation is based on a valuation of 100% of Popolare Vita equal to 789,6 million euro and of 100% of Avipop Assicurazioni equal to 475,0 million. On Friday Banco Bpm, in the last trading session of the week, closed by losing more than 1% in Piazza Affari, in a generally black day for the banking sector, bringing the shares to a value of 3,01 euros. Negative session also for Cattolica Assicurazioni, which lost 1,39% to 9,19 euro.
