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CDP sells 1.9 pct Generali stake for 467.5 mln euros
July 8, 2014 / 7:07 AM / 3 years ago

CDP sells 1.9 pct Generali stake for 467.5 mln euros

MILAN, July 8 (Reuters) - Italy’s state-lender Cassa Depositi e Prestiti (CDP) said on Tuesday it had completed the placement of a 1.913 percent stake in insurer Assicurazioni Generali at a price of 15.7 euros per share.

In a statement CDP and Fondo Strategico Italiano (FSI), controlled by CDP, said it had raised 467.5 million euros ($637.69 million)from the sale.

FSI sold the stake via an accelerated book building process reserved for institutional investors.

The sole bookrunner was Merrill Lynch International.

$1 = 0.7331 Euros Reporting by Stephen Jewkes; editing by Oleg Vukmanovic

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