MILAN, March 20 (Reuters) - Italian private equity funds Palladio Finanziaria and Sator have not spoken to any industrial partner as part of their plans to rescue troubled Italian insurer Fondiaria-SAI, the head of Sator Matteo Arpe said on Tuesday.
“We have not had any discussions with any industrial partner,” Arpe said in a conference call.
Sator, founded by Italian turnaround banker Arpe, and Palladio are ready to inject up to 450 million euros in Fondiaria parent Premafin to save Fondiaria.
The offer is a rival bid to that of insurer Unipol which in January agreed to a deal brokered by top investment house Mediobanca to save Fondiaria in a four-way merger involving a series of capital increases. (Reporting By Stephen Jewkes)