Assicurazioni Generali Says It Sold 3.04% Stake in Intesa Sanpaolo
May 30 2017 - 12:05PM
Dow Jones News
By Giovanni Legorano
ROME--Italian insurer Assicurazioni Generali SpA (G.MI) said
Tuesday it sold a 3.04% stake in Intesa Sanpaolo SpA (ISNPY,
ISP.MI) , an exposure it had built to block a potential takeover
from the lender.
Generali also said it terminated a derivative transaction it had
entered into to hedge the risk related to shares in Intesa.
In January, the insurer had emerged as a potential acquisition
target after Intesa said it was weighing a tie-up with Generali, a
prospect it abandoned a month later.
Write to Giovanni Legorano at giovanni.legorano@wsj.com
(END) Dow Jones Newswires
May 30, 2017 12:50 ET (16:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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