December 18, 2017 / 6:54 AM / 2 months ago

BRIEF-Italy's Generali To Sell Ireland's PanEurope, With Gain Of 56 Mln Euros

Dec 18 (Reuters) - Italy’s biggest insurer Generali says:

* TO SELL IRELAND-BASED GENERALI PANEUROPE, TO RECEIVE TOTAL CASH PROCEEDS OF 286 MILLION EUROS ($336.48 MILLION) AT CLOSING OF DEAL

* POTENTIAL DEFERRED CONSIDERATION OF UP TO 10 MILLION EUROS TO BE PAID 12 MONTHS AFTER CLOSING

* SALE WILL ADD APPROXIMATELY 0.4 PERCENTAGE POINTS TO THE GROUP‘S REGULATORY SOLVENCY II RATIO, EXPECTED TO GENERATE POST-TAX GAIN OF APPROXIMATELY 56 MILLION EUROS

* EXPECTS TO FINALISE SALE OF GENERALI PANEUROPE DURING THE FIRST HALF OF 2018

* “DEAL PART OF ONGOING EFFORTS TO RATIONALIZE GROUP‘S GEOGRAPHICAL FOOTPRINT”, SAYS CEO GLOBAL BUSINESS LINES & INTERNATIONAL FREDERIC DE COURTOIS IN STATEMENT Source text for Eikon: Further company coverage:

$1 = 0.8500 euros Reporting by Milan newsroom

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