Italian Billionaires, Fondazione CRT Raise Overall Stake in Generali -- Update
December 06 2021 - 7:41AM
Dow Jones News
By Giulia Petroni
Billionaires Francesco Gaetano Caltagirone and Leonardo Del
Vecchio together with banking foundation Fondazione CRT have taken
their overall stake in Assicurazioni Generali SpA to more than 15%,
the Italian insurer said on Saturday.
The Caltagirone Group currently holds a 7.558% stake in
Generali, while Delfin Sarl, steered by Mr. Del Vecchio, has a
6.139% stake. Turin-based Fondazione CRT holds a 1.474% stake in
the company.
Earlier this year, the parties made a deal to use their combined
shareholding in Generali to push for a "more profitable and
effective management," challenging Generali's largest single
shareholder Mediobanca SpA.
They have agreed to consult each other over decisions,
particularly on the appointment of a new board of directors ahead
of the company's shareholders' meeting next year.
According to Italian media, the shareholders are preparing a new
strategy plan that will likely have a stronger focus on asset
management.
Mr. Caltagirone has been a member of Generali's board of
directors since 2007, while Mr. Del Vecchio is chairman of
Franco-Italian eyewear company EssilorLuxottica SA and the founder
of Luxottica Group.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
December 06, 2021 07:26 ET (12:26 GMT)
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