Italian Investors Offer Premafin $598M To Fend Off Buyout

Law360, New York (February 23, 2012, 6:31 PM EST) -- 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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.