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BRIEF-Cattolica Assicutazioni exercises put option right on JVs with Banca Popolare di Vicenza
April 4, 2017 / 3:17 PM / in 7 months

BRIEF-Cattolica Assicutazioni exercises put option right on JVs with Banca Popolare di Vicenza

April 4 (Reuters) - Societa Cattolica di Assicurazione Sc:

* Board has resolved to exercise its right to sell to Banca Popolare di Vicenza its holdings in share capital of Berica Vita, Cattolica Life and ABC Assicura

* As of April 4, the value of the put option is equal to 186.1 million euros ($198.48 million)

* On the basis of accounting and actuarial results, the envisaged penalties for the failure to achieve the subsidiaries’ underwriting and profitability targets are equal to 8.6 million euros Source text for Eikon: Further company coverage: ($1 = 0.9376 euros) (Gdynia Newsroom)

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