Groupama Eyes Fondiaria Minority Stake

French insurer Groupama is looking to acquire a stake of up to 20% in Italy’s Fondiaria-SAI.

French insurer Groupama is looking to acquire a stake of up to 20% in Italy’s Fondiaria-SAI, The Wall Street Journal reports. Groupama is not, however, seeking control of the Italian insurer.

In October, Groupama said it would underwrite a multimillion capital increase of Premafin Finanziaria, the holding company that controls Fondiaria-SAI, and take a minority stake in it. A deal will depend on market conditions, regulatory approval, and confirmation it will not have to launch a takeover.

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