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...
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.