Italian Investors Offer Premafin $598M To Fend Off Buyout

Law360, New York (February 23, 2012, 6:31 PM ET) -- Two Italian private equity funds offered Thursday to help shore up the ailing parent of insurance company Fondiaria-Sai SpA with a €450 million ($598.8 million) injection to prevent a takeover by an industry rival.

Sator Capital Ltd. and Palladio Finanziaria SpA made a binding offer to Premafin Financial Investments Holding SpA, in exchange for a 60 percent stake in the holding company, according to a joint filing with the Italian Stock Exchange. The company is currently considering a takeover bid from another Italian insurance company....
To view the full article, register now.