January 15, 2014 / 5:52 PM / 4 years ago

Unipol says Allianz makes offer for insurance assets

MILAN, Jan 15 (Reuters) - Unipol said on Wednesday Allianz SpA had made an offer to buy some assets it must sell for antitrust reasons and the Italian insurer will discuss the proposal at meetings called for Jan. 21.

The decision to look into the proposal from the Italian arm of Europe’s biggest insurer Allianz comes as the boards of Unipol and its UnipolSai unit decided to reject a separate offer, the companies said in a joint statement.

“Based on the valuations made by the management of the group, the proposal from Allianz ... will be therefore submitted with recommendation for a favourable vote,” CEO Carlo Cimbri said in the statement.

The offer from Allianz regards some insurance assets of former Milano Assicurazioni, now part of UnipolSai. (Reporting by Danilo Masoni, editing by Agnieszka Flak)

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