Generali Spends $3.3B To Buy Out East Europe Insurance JV

Law360, New York (January 8, 2013, 5:07 PM EST) -- Europe's biggest life insurer, Assicurazioni Generali SpA, has agreed to buy out Central and Eastern European investment heavyweight PPF Group NV, its partner in a CEE insurance joint venture, over two years for €2.52 billion ($3.29 billion), according to announcements Tuesday.

The deal — which values the joint venture, Generali PPF Holding BV, at €5.1 billion — will ultimately give Italy-based Generali control of the 49 percent stake it does not currently own in the insurance company.

In recent years, analysts had begun to question Generali's...
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