MILAN (Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) is interested in buying assets that Italian insurer Unipol (UNPI.MI) must sell as part of a merger with peer Fondiaria-SAI FOSA.MI, business daily Il Sole 24 Ore said on Saturday.
The paper said Berkshire was eying commercial assets belonging to Milano Assicurazioni ADMI.MI, a unit controlled by Fondiaria.
Unipol has been forced by Italy’s anti-trust authority to sell portfolio assets with premiums totaling around 1.7 billion euros ($2.2 billion) as part of its rescue of the Fondiaria-SAI group.
The merger, which will create Italy’s No. 2 insurer, is expected to close by the end of the year.
Insurance accounted for roughly a quarter of Berkshire’s revenues in 2012. Buffett’s investments are viewed by many investors as a seal of approval from one of the world’s most respected businessmen.
Non-binding offers for the Unipol assets are expected next Friday, Il Sole said.
Neither Unipol nor Berkshire Hathaway Inc were immediately available for a comment. ($1 = 0.7564 euros)
Reporting By Stephen Jewkes; Editing by Matthew Tostevin