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Assicurazioni Generali SpA Informs Regarding Cash Compensation for Minority Shareholders of Generali Deutschland Holding AG-Reuters

Thursday, 17 Oct 2013 08:00pm EDT 

Reuters reported that Assicurazioni Generali SpA has set at EUR 107.77 (USD 150) per share the price it is willing to pay to purchase all the shares it does not already own in its unit Generali Deutschland Holding AG (GDH). The squeeze out will cost Generali, which is in the middle of a restructuring of its portfolio of holdings, approximately EUR 228 million , which will fund through internal resources. Generali said in July 2013 it had agreed to buy a 3% stake in Generali Deutschland from private investors and then launch a squeeze-out to acquire the remaining 4%. Generali stated that the adequacy of this cash compensation will be examined by the expert auditor already appointed by the Regional Court of Cologne. GDH announced that the squeeze-out resolution shall be adopted at an extraordinary shareholders’ meeting of GDH planned for December 4, 2013. 

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-0.18 -1.05%
19 Dec 2014