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International

Italy: Generali raises $237.9 million through sale of 12% stake in Banca Generali

April 05, 2013 Reprints

Italian insurer Assicurazioni Generali S.P.A. has sold its 12% stake in asset management unit Banca Generali S.P.A. at €13.55 ($17.41) per share, Fox business reported.

Generali raised €185.2 million ($237.9 million) from the placement resulting in a capital gain of almost €143 million ($183.7 million), which in turn raised the insurer's Solvency ratio by 1.5% points.

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Italy: Generali raises $237.9 million through sale of 12% stake in Banca Generali

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