Generali: sale of Generali Leben to Viridium

(CercleFinance.com) - The Generali stock is up 2.
3% in Milan this morning, following the announcement of an agreement to sell its 89.9% majority stake in Generali Leben to Viridium Gruppe, a specialist in life insurance portfolio management in Germany.

100% of Generali Leben is valued at one billion euros. In addition, Viridium will reimburse the Italian insurance company 882 million euros of hybrid loans and Generali will have the opportunity to take a minority stake in Viridium.


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