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unipol has received several offers for assets it must sell
November 14, 2012 / 7:08 PM / 5 years ago

unipol has received several offers for assets it must sell

MILAN, Nov 14 (Reuters) - Italian insurer Unipol has received several offers for the asset portfolio it has to sell to meet antitrust conditions to clear its merger with peer Fondiaria-SAI, the CEO said on Wednesday.

“Our advisor has received various formal and informal manifestations of interest,” Carlo Cimbri told analysts on a conference call.

Unipol must sell around 1.7 billion euros of portfolio assets to meet the conditions laid down by the competition regulator.

Cimbri said he expected to complete the disposals by the end of next year. (Reporting By Stephen Jewkes, editing by Antonella Ciancio)

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