Intesa Sanpaolo interested in purchasing Generali
The Milanese bank Intesa Sanpaolo would be ready to buy the majority of Generali's capital. The transaction would be settled by exchange of securities. The board of directors of the Italian insurer will study the offer during its today's meeting (January 27, 2017). Note that the market capitalization of Generali is approximately 24 billion EUR ( 25.7 billion USD)that is one third less than that of Intesa Sanpaolo.
Based in Turin, Intesa Sanpaolo is one of the four major Italian financial centers with UniCredit, UnipolSai and Generali. The merger of a leading banking player with the largest transalpine insurer could lead to the creation of an Italian giant in bancassurance
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