Bankitalia will remain a shareholder of the Fondo Strategico Italiano of Cassa depositi e prestiti even after the FSI has sold its stake in Generali. This was confirmed by the managing director of the Cdp, Giovanni Gorno Tempini, on the sidelines of an event dedicated to the Expo.
Last year the Bank of Italy had decided to dispose of its 4,5% stake in the insurance company after having received a mandate to also deal with the supervision of the sector. To do this, he had chosen to transfer 4,5% of Generali to FSI, becoming a shareholder and in recent weeks the Fund has set the conditions for the sale of the stake in the insurance company, ahead of schedule.
“What was foreseen – explained Gorno Tempini – is that once the total value contributed through Generali's shareholding was one hundred, once the disposal process was concluded, a part would return to Bank of Italy in the event of a capital gain, which has occurred; some would be returned as a redemption of preferred stock; and another part would have been dedicated to a longer-term permanence of the Bank of Italy in the shareholding structure of the Strategic Fund”.
