UPDATE 1-Generali sells stake in Venice airport operator
MILAN Oct 8 (Reuters) - Italian insurer Generali said on Tuesday it has sold its indirect stake in Venice airport operator Save for 60 million euros ($82 million), the equivalent of 13 euros a share, as part of its efforts to sell off non-core business interests.
"The deal was closed for a total gross consideration of approximately 60 million euros, reflecting a 13 euros per share valuation of Save," Generali said in a statement.
Save's share price closed at 12.20 euros on Tuesday.
Generali sold the indirect stake to a company wholly owned by Finanziaria Internazionale Holding (Finint).
Finint in turn sold the stake to Star Holdings, a company owned by Morgan Stanley Infrastructure Partners Fund.
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