Generali holds talks for sale of Swiss banking unit BSI
Posted On: May. 16, 2014 12:00 AM CSTItaly's Assicurazioni Generali S.p.A. is holding exclusive talks with Brazil-based Grupo BTG Pactual S.A. for a potential sale of BSI S.A., a Swiss private bank controlled by Generali, Reuters reported.
The move is part of the Italian insurer's €4 billion ($5.5 billion) disposal plan. Generali has not provided any details on the sale’s value or timing. Analysts told Reuters that BSI may be worth between €1.2 billion and €1.4 billion.