Italian insurer Unipol said it had received an offer to buy the insurance business with 1.7 billion euros ($2.3 billion) worth of premiums which it must sell to meet conditions set by the local competition watchdog to clear its merger with peer Fondiaria-SAI.
Breaking News
Unipol dropped its own appeal against Italy's anti-trust regulator decision. The ruling required Unipol to sell US$2.2 billion worth of assets.
Berkshire Hathaway expressed interest in purchasing assets owned by Unipol.
Two Italian private equity funds said on Wednesday they would be tabling a renewed offer for insurer Fondiaria-SAI (FOSA.MI)
Two main shareholders of loss-making insurer Fondiaria-SAI on Friday rejected a key condition of a planned merger with smaller peer Unipol.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies.
Italian insurer Fondiaria-SAI has proposed share swap ratios for the planned merger with Unipol that would give its peer 61 percent of the new merged entity.
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