Premafin Finanziaria Holding di Partecipazioni SpA (PF.MI), the holding company of Fondiaria-SAi SpA (FSA.MI), or FonSAI, said Thursday its board has decided to seek a stake between 0.98% and 1.66% in the company resulting from its merger with Unipol Gruppo Finanziario SpA (UNI.MI), FonSAI, and Milano Assicurazioni SpA.
Earlier this year, Unipol announced its plans to merge with FonSAI, Premafin and Milano Assicurazioni through a complex operation that would see Unipol take part in a number of capital increases.
The resulting company would become Italy's biggest insurer by premiums after Assicurazioni Generali SpA (G.MI).
Citing people close to the operation, Italian news agency ANSA said Thursday that following the merger, Unipol would have 61% of the new entity, FonSAI would own 27.45% of it, Milano Assicurazioni would hold a 10.7% stake, while Premafin would have a 0.85% holding of the company.
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-By Enza Tedesco, Dow Jones Newswires, email@example.com