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Assicurazioni Generali SpA Completes Sale of 69.13% Stake in Migdal Insurance and Financial Holdings Ltd to Eliahu Insurance Company Ltd


Monday, 29 Oct 2012 12:01pm EDT 

Assicurazioni Generali SpA announced that on October 29, 2012 it has completed the sale of its 69.13% share in Migdal Insurance and Financial Holdings Ltd to Eliahu Insurance Company Ltd. The transaction, which has received all the authorizations required from the Israeli competent authorities, took place in accordance with the terms of the contract announced to the market on September 6, 2012 for a consideration of EUR 705 million, with a negligible impact after tax on P&L. This sale fits within the re-focusing process of the Group and enables it to strengthen its overall liquidity position with a positive impact on the capital structure. 

Company Quote

15.21
0.02 +0.13%
11:34am EDT