June 24, 2020 / 10:24 PM / 2 months ago

BRIEF-Generali And Cattolica Announce Launch Of A Strategic Partnership

June 24 (Reuters) - Generali:

* GENERALI AND CATTOLICA ANNOUNCE THE LAUNCH OF A STRATEGIC PARTNERSHIP

* COMMITS TO BECOMING MAJOR SHAREHOLDER, BUYING 24.4% OF CATTOLICA, THROUGH A RESERVED SHARE CAPITAL INCREASE FOR € 300 MILLION

* AGREEMENT ON 4 BUSINESS AREAS OF ASSET MANAGEMENT, INTERNET OF THINGS, HEALTH AND REINSURANCE

* AGREEMENT REQUIRES CATTOLICA’S TRANSFORMATION FROM COOPERATIVE ENTITY TO JOINT-STOCK CO WITH EFFECT FROM APRIL 1 2021

* CATTOLICA BOARD EXPECTED TO CONVENE EXTRAORDINARY SHAREHOLDERS’ MEETING BEFORE JULY 31, TO APPROVE TRANSFORMATION INTO JOINT-STOCK CO

* CATTOLICA ALSO PLANNING TO APPROVE SHARE CAPITAL INCREASE, OPTIONED FOR ALL SHAREHOLDERS, FOR MAX OF €200 MILLION TO BE CARRIED SUBSEQUENTLY Source text for Eikon: Further company coverage:

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