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Generali: looks to the east, Poland is the first stage
The final deal for Aviva assets. Growth in Russia on stand-by
17 March, 19:18
(ANSA) - MILAN, 17 MAR - Generali looks to the east and, as a
first stage, plays its cards in Poland, where they are competing
with the Dutch NN and the German Allianz for Aviva's activities.
The Anglo-Saxon group, which is withdrawing from countries outside UK, Ireland, and Canada, and has just left Italy, has postponed the final negotiations on Aviva Poland's sale to the end of March when it expects to gain around two bn euros.
Generali has the necessary resources for the acquisitions, and according to Il Sole 24 Ore the Generali investment committee, chaired by Philippe Donnet, is also considering Russia, the companies Vtb, Rosgosstrash, and in particular Reso Garantia.
The Russian option could have remained on stand-by, even based on Ingosstrakh, where Generali entered in 2013 with a 38.5% stake.
"We are completing the integration of the latest acquired companies to obtain the expected synergies," recalled Donnet at the presentation of the 2020 results. In 2020 the Italian group took over the Portuguese Seguradoras Unidas and Axa's activities in Greece, but not Aviva's asset in France, which remains in the hands of Aema Group. "The acquisitions - underlined the CEO of Generali - are not mandatory but are a way to create value for the shareholders. I don't know what we will do from now until the end of the year, and it will depend on the quality of the opportunities we come upon." (ANSA).
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The Anglo-Saxon group, which is withdrawing from countries outside UK, Ireland, and Canada, and has just left Italy, has postponed the final negotiations on Aviva Poland's sale to the end of March when it expects to gain around two bn euros.
Generali has the necessary resources for the acquisitions, and according to Il Sole 24 Ore the Generali investment committee, chaired by Philippe Donnet, is also considering Russia, the companies Vtb, Rosgosstrash, and in particular Reso Garantia.
The Russian option could have remained on stand-by, even based on Ingosstrakh, where Generali entered in 2013 with a 38.5% stake.
"We are completing the integration of the latest acquired companies to obtain the expected synergies," recalled Donnet at the presentation of the 2020 results. In 2020 the Italian group took over the Portuguese Seguradoras Unidas and Axa's activities in Greece, but not Aviva's asset in France, which remains in the hands of Aema Group. "The acquisitions - underlined the CEO of Generali - are not mandatory but are a way to create value for the shareholders. I don't know what we will do from now until the end of the year, and it will depend on the quality of the opportunities we come upon." (ANSA).
