Further step by Generali towards integration with Cattolica Assicurazioni. After completing the takeover bid on Cattolica in October last year, acquiring 84,5% of the share capital, today the Lion of Trieste announces its intention to purchase a further 5,33% which brings the stake it holds in the Venetian company more than 90%.
The procedure is that of Reverse Accelerated Book Building aimed at qualified investors and foreign institutional investors with which the Trieste company intends - it says in a press release - to purchase at least no. 12.166.055 Cattolica ordinary shares, equal to 5,3279% of its share capital (the "Material Holding").
In this way, also taking into account the treasury shares held by Cattolica at the date of this press release, Assicurazioni Generali would come to hold a over 90% participation of Cattolica's share capital.
Equita Sim sole bookrunner of the operation, price 6,75 euros
Generali gave mandate to Equita SIM, as authorized intermediary and sole bookrunner, to purchase such share at a maximum price of 6,75 euros per share to be started immediately and which Assicurazioni Generali reserves the right to close at any time.
Equita SIM will address exclusively to qualified investors in Italy and foreign institutional investors (excluding the USA, as per Regulation S and Japan) who intend to sell Cattolica shares. The transaction is conditional on the purchase of the relevant shareholding.
It is recalled that, as of today, Assicurazioni Generali already holds n. 192.896.731 Cattolica shares, equal to 84,475% approximately of its share capital.
