MILAN Nov 12 Italian insurer Generali
has agreed to buy for 109 million euros ($146.14 million) a 33
percent stake owned by German competitor Allianz in
Milan's CityLife real estate project.
With the sale, Generali will become the sole shareholder of
the CityLife consortium, which is re-developing 360,000 square
meters in semi-central Milan.
As part of the deal, Allianz has agreed to purchase the
Isozaki Tower, one of three landmark skyscrapers that are part
of the project, and part of the residential district for 367
($1 = 0.7459 euros)
(Reporting By Lisa Jucca)