Generali Given Green Light for Cattolica Acquisition by European Commission
October 22 2021 - 1:45AM
Dow Jones News
By Ed Frankl
Assicurazioni Generali SpA said late Thursday that it has
received authorization from the European Commission for its
purchase of fellow Italian insurer Cattolica Assicurazioni SC.
Generali, Italy's largest insurer, launched a 6.75 euro ($7.85)
a share takeover for all shares in its smaller rival, valuing it at
around EUR1.18 billion.
Cattolica's board in September said the offer was fair value.
Italy's market regulator Consob has already given the green light
to the takeover.
Generali said the antitrust condition among the conditions of
the offer was now fulfilled.
The acceptance period will close on Oct. 29, Generali previously
said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 22, 2021 01:30 ET (05:30 GMT)
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