Generali plans to buy Cattolica for over $1.4 billion

Italy-based insurer Assicurazioni Generali SpA is planning to launch a €1.17 billion ($1.4 billion) buyout offer for insurer Societa Cattolica di Assicurazione SpA, Verdict reported. Generali, which already owns a 24.4% stake in the Italian insurer Cattolica, intends to acquire all the remaining shares and emerge as the largest insurer in the Italian nonlife insurance market.

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