Italian insurance company Assicurazioni Generali (ARZGY.PK) said it has achieved the threshold of 95% share capital of Società Cattolica di Assicurazione S.p.A., to allow Generali to purchase the remaining shares.
As per the deal the companies have entered into on July 6, upon acquiring 95% of Cattolica stock, Generali would have the right to purchase the remaining outstanding ordinary shares of Cattolica.
The purchase price would be 6.75 euros per share as the companies have agreed to, earlier.
Sale requests submission period will end on July 29, 2022, unless extended, and the consideration would be paid to the shareholders on August 5, Generali said.
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