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Fondiaria-SAI To Raise €800M
Fondiaria-SAI is seeking to boost its solvency ratios by raising €800 million in fresh capital.
Fondiaria-SAIis seeking to boost its solvency ratios by raising €800 million in fresh capital,The Wall Street Journalreports. As part of the capital boost, the Italian insurer will sell new shares worth about €350 million in its subsidiary,米兰Assicurazioni.
Fondiaria-SAI will also spend around €150 million on new Milano shares to retain a 55% stake in the unit.Credit SuisseandUniCredithave been appointed to underwrite the offering. The Italian insurer’s main creditor, UniCredit, will acquire 6.6% of its shares for €170 million as part of the capital-raising scheme.
Click here for the story fromThe Wall Street Journal.