July 7, 2014 / 5:52 PM / in 4 years

Italy's CDP starts placement of 1.913 pct stake in Generali

MILAN, July 7 (Reuters) - Italy’s state-lender Cassa Depositi e Prestiti (CDP) said on Monday it had launched the placement of a 1.913 percent stake in insurer Assicurazioni Generali.

Fondo Strategico Italiano (FSI), controlled by CDP, is selling the stake via an accelerated book building process reserved for institutional investors, CDP said in a joint statement with FSI.

FSI owns 4.482 percent of Generali.

The sale is part of an agreement reached with the Bank of Italy in 2012 under which FSI committed to sell its stake in Generali to third parties by the end of 2015.

Reporting by Stephen Jewkes; editing by Oleg Vukmanovic

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