Generali, a billion still in cash for acquisitions
After launching the business of the health he was born in welfare with Welion, General puts in the viewfinder The Medical to consolidate in Europe in the health sector. According to what he reports Bloomberg, the Lion, grappling with the preparation of the new industrial plan that will be presented to the market in mid-December and that after theTakeover bid Cattolica still has one billion in cash to invest in acquisitions according to budget intended forBUT, he is arguing with the Frenchwoman Credit Agricole, at a still preliminary stage, for the purchase of the asset.
The transalpine company offers health insurance products to professionals and could be priced approx 400 million euros. On the occasion of the nine-month accounts the CFO of Generali Christian Borean he recalled that “for us theBUT it is a means to further diversify our sources of income and accelerate the execution of the strategy, but they are not an obligation, it is only a way to create value for the shareholders “. And, therefore” we continue to evaluate any operation that is possible and consistent with the financial, strategic and cultural discipline of our group “, he added.
Bloomberg in fact, he points out that the negotiation, which has not been commented on by the transalpine group or by Generali, is not necessarily going to be successful. Generali, which closed the nine months with a net profit up 74% to 2.25 billion and which has already achieved most of its targets for the entire year, will present the new three-year plan to 2024.
The insurance group did acquisitions in Slovenia Poland, Portugal, Greece and has also signed one in Malaysia, whose completion is scheduled for the second quarter of 2022. Furthermore, in Italy it has successfully completed theTakeover bid on Cattolica reaching 84.5%. Integration with the Veronese company is expected in the second half of next year.
After the success of the Generali takeover, Cattolica changes auditor and calls the meeting on December 23rd
In Verona, the Board of Cattolica took note of the opinion prepared by the Management Control Committee for the consensual termination of the ongoing statutory audit assignment by PricewaterhouseCoopers and called the ordinary shareholders’ meeting, in single call, for December 23rd, thus replacing the previous one of December 14th and 15th. The consensual termination of the current audit assignment and the appointment of a new statutory auditor became necessary after the company became a subsidiary of Generali by right on 5 November and following the Lion’s tender offer.
The purchase of control by Generali has in fact determined the onset of a situation of incompatibility for PricewaterhouseCoopers in consideration of services rendered by the auditing firm and entities belonging to the related network in favor of Generali and its group.
Shareholder Francesco Caltagirone rises again: he is at 7.2% of the Lion’s capital
Meanwhile, the ascent of Francesco Gaetano Caltagirone in the capital of the Trieste insurance company. Between 18 and 19 November, the Capitoline entrepreneur bought 150,000 Generali shares, equal to 0.009% of the capital, and rounded the stake to 7.2% if we do not count the 0.063% attributable to a company associated with the group. The shareholders’ agreement with Leonardo Del Vecchio And Crt Foundation now holds 14.153% of Leo.
#Generali #bets #million #health #Negotiations #Medicale #Agricale