Assicurazioni Generali S.p.A. (BIT:G) made an offer to acquire the remaining 73% stake in Società Cattolica di Assicurazione - Società Cooperativa (BIT:CASS) from Berkshire Hathaway Inc. (NYSE:BRK.A) and other shareholders for approximately €990 million on May 31, 2021. Under the terms of the offer, Assicurazioni Generali agreed to offer €6.75 per share in cash to the shareholders of Cattolica for each share held. The deal will be paid for with existing own funds and Generali doesn't expect to take on additional debt. If the transaction is successful, Generali plans to delist Cattolica, while maintaining its brand. The transaction completion is subject to regulatory authorization including the antitrust approval, tendering of at least 66.67% share capital of Cattolica. As of May 31, 2021, the board of Generali unanimously approved the offer. As of September 17, 2021, Commissariat aux Assurances approved to acquire indirect control of CATTRe SA and prior authorization from the Central Bank of Ireland to purchase indirect control of Vera Financial Dac. As of September 22, 2021, Commissione Nazionale per le Società e la Borsa (Consob) has approved the transaction. As of September 28, 2021, the Board of Società Cattolica di Assicurazione - Società Cooperativa considered the offer as fair. Società Cattolica di Assicurazione - Società Cooperativa's Board of Directors unanimously approved the voluntary public tender offer launched by Assicurazioni. The transaction is expected to be completed by the end of 2021. Offer will start on October 4, 2021 and will close on October 29, 2021. Consideration for the tendered shares will be paid on November 5, 2021. As on October 21, 2021, European Commission unconditionally authorized the acquisition of the control of the Issuer by the Offeror.

Rothschild S.p.A., Bank Of America Merrill Lynch International DAC, Milan Branch and Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as financial advisors while Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisor to Generali. The Board of Directors of Società Cattolica di Assicurazione - Società Cooperativa appointed Citigroup Global Markets Europe AG and KPMG Corporate Finance LLC as financial advisors and Chiomenti Studio Legale as legal advisor. Lazard S.r.l. acted as financial advisor to Related Parties Committee of Società Cattolica di Assicurazione - Società Cooperativa.

Assicurazioni Generali S.p.A. (BIT:G) completed the acquisition of an additional 69.32% stake in Società Cattolica di Assicurazione - Società Cooperativa (BIT:CASS) from Berkshire Hathaway Inc. (NYSE:BRK.A) and others for approximately €940 million on October 29, 2021. At the close of the Offer, Offeror received an acceptance in respect of 138,842,677 Shares. Post completion, Offeror holds 192,896,731 Shares in the aggregate, equal to 96.3% stake in Società Cattolica di Assicurazione - Società Cooperativa. As the Offeror will hold a stake exceeding 66.67% in Società Cattolica di Assicurazione - Società Cooperativa, it satisfies the the Minimum Threshold Condition.