Banco Popolare and the insurance company Aviva Italy they sold 79,62% of Eurovita Assicurazioni to Jcf III Europe, vehicle company of the private equity fund JC Flowers, per 47 million euro.
Eurovita is 77,55% owned by Finoa, a 2,07/XNUMX joint venture between Banco and Aviva, and XNUMX% directly by Banco Popolare. With the sale, the jv will dissolve.
For Banco Popolare, underlines a note, the operation "does not have significant impacts", since the value of the equity investments is in line with the sale price. The institute sold its 2,07% stake for 1,2 million, while Finoa sold 77,55% for 45,8 million.
At the start of the session, Banco Popolare's share on the Stock Exchange hovers around parity.
