Bank of Italy transfers Generali stake to FSI fund
MILAN, March 22
MILAN, March 22 (Reuters) - The Bank of Italy on Friday transferred its 4.5 percent stake in insurer Generali to Italy's state-controlled fund Fondo Strategico Italiano (FSI), in exchange for shares in FSI.
In a statement the central bank said the deal valued each share in Generali at around 12.67 euros.
The Bank of Italy had agreed to the deal back in December to avoid a possible conflict of interest after the government gave it powers to oversee Italy's insurance regulator. (Reporting By Danilo Masoni, editing by Antonella Ciancio)