Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Assicurazioni Generali    G   IT0000062072

ASSICURAZIONI GENERALI (G)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Assicurazioni Generali : Generali buys 3 percent of Intesa Sanpaolo, ends previous securities deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/17/2017 | 06:30pm CEST
File photo of the Intesa Sanpaolo logo seen in Milan

MILAN (Reuters) - Italy's biggest insurer Assicurazioni Generali (>> Assicurazioni Generali SpA) said on Friday it had bought 510 million shares in Intesa Sanpaolo (>> Intesa Sanpaolo SpA) equal to a 3.04 percent stake, effectively blocking the lender from acquiring a large stake in itself.

MILAN (Reuters) - Italy's biggest insurer Assicurazioni Generali (>> Assicurazioni Generali SpA) said on Friday it had bought 510 million shares in Intesa Sanpaolo (>> Intesa Sanpaolo SpA) equal to a 3.04 percent stake, effectively blocking the lender from acquiring a large stake in itself.

Intesa has said it is studying a possible combination with the insurer in a deal that would create a financial powerhouse with a market value of around 60 billion euros (£51 billion).

The stake acquisition replaces a 3 percent holding in Intesa that Generali had taken through a securities lending transaction last month. The insurer said on Friday that it had launched the process to terminate that securities transaction.

According to Italy's cross-shareholding regulations, a company cannot hold more than 3 percent of another entity's voting rights if the latter already has a stake of more than 3 percent in the former one.

However, the limits would no longer apply should Intesa launch a takeover bid for at least 60 percent of Generali's share capital.

At Friday's closing price, the 3.04 percent stake in Intesa is valued at around 1.1 billion euros.

(Reporting by Agnieszka Flak; editing by Silvia Aloisi)

Stocks treated in this article : Assicurazioni Generali SpA, Intesa Sanpaolo SpA
Stocks mentioned in the article
ChangeLast1st jan.
INTESA SANPAOLO 0.87% 3.1955 End-of-day quote.14.37%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ASSICURAZIONI GENERALI
04/23AVIVA : Europe's pension problem spurs return of veteran investors
RE
04/19ASSICURAZIONI GENERALI : Generali renews its partnership with Palazzo Cini in Ve..
PU
04/19ASSICURAZIONI GENERALI : Generali CEO not aware of any takeover ambitions
RE
04/19ASSICURAZIONI GENERALI : AGM approves 2017 financial statements
PU
04/19ASSICURAZIONI GENERALI : Italy's Generali to sell holdings in coal sector in 6-1..
RE
04/19ASSICURAZIONI GENERALI : Note on the climate change strategy
PU
04/19ASSICURAZIONI GENERALI : Generali to Sell Belgian Operations for EUR540 Million
DJ
04/19ASSICURAZIONI GENERALI : Proxy Statments
CO
04/18ASSICURAZIONI GENERALI : Generali to sell Belgium business for 540 million euros
RE
04/18ASSICURAZIONI GENERALI : Generali to sell Belgian Operations for €540 million
PU
More news
News from SeekingAlpha
03/18ILS OFFERED 'MORE COMPETITIVE TERMS' : Generali 
03/15Assicurazioni Generali Spa ADR 2017 Q4 - Results - Earnings Call Slides 
03/01MEDIOBANCA : Push Towards Wealth Management Justifies Higher Valuation 
2017Buy Zurich For Its 5.7% Yield 
2017Assicurazioni Generali (ARZGY) Presents At BoAML 22nd Annual Financials CEO C.. 
Financials (€)
Sales 2018 75 063 M
EBIT 2018 4 898 M
Net income 2018 2 405 M
Debt 2018 -
Yield 2018 5,34%
P/E ratio 2018 10,72
P/E ratio 2019 10,29
Capi. / Sales 2018 0,35x
Capi. / Sales 2019 0,35x
Capitalization 26 229 M
Chart ASSICURAZIONI GENERALI
Duration : Period :
Assicurazioni Generali Technical Analysis Chart | G | IT0000062072 | 4-Traders
Technical analysis trends ASSICURAZIONI GENERALI
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 16,5 €
Spread / Average Target -2,2%
EPS Revisions
Managers
NameTitle
Philippe Donnet Group Chief Executive Officer, MD & Director
Gabriele Galateri di Genola e Suniglia Chairman
Jaime Anchustegui Melgarejo Group Chief Operations & Insurance Officer
Luigi Lubelli Group Chief Financial Officer
Bruce M. Hodges Group Chief Information & Digital Officer
Sector and Competitors
1st jan.Capitalization (M$)
ASSICURAZIONI GENERALI11.28%32 046
AXA-4.77%69 398
PRUDENTIAL-0.79%67 766
METLIFE-6.07%49 230
PRUDENTIAL FINANCIAL-6.82%45 154
MANULIFE FINANCIAL CORP.-8.51%37 304