Generali seals €1.17bn takeover of Cattolica
Written by Adam Cadle
04/11/2021
Generali has sealed its €1.17bn ($1.36bn) takeover of Cattolica.
On the last day of Generali’s buyout offer, investors had tendered shares equivalent to 60.8% of Cattolica’s capital.
Along with the shares it already owned, Generali now holds a stake of 84.5% in Cattolica.
Generali crossed the majority threshold last week but a two-thirds majority was needed to push through extraordinary shareholder resolutions such as the decision to take Cattolica private and merge it into the group – as Generali plans to do.
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