Wendel denied on Tuesday that it had acquired a stake in the insurance brokerage group Diot-Siaci, saying that it had not concluded any transaction involving the company's capital.

Press reports had previously suggested that the listed investment company had purchased the shares held by the Canadian investment fund OTPP, representing almost 29% of the company's capital.

Diot-Siaci is a generalist insurance and reinsurance brokerage and consulting group with operations in France, Europe, Asia, the Middle East and Africa.

With nearly 5,000 employees, the group generated sales of close to 800 million euros in 2022.

Following the release of this brief press release, Wendel shares gained 0.3% on Tuesday morning on the Paris Bourse.

Wendel plans to publish its annual results for 2023 on Wednesday, February 28.

Copyright (c) 2024 CercleFinance.com. All rights reserved.