Intesa to Buy Insurer Cargeas for EUR390 Million
February 08 2021 - 9:38AM
Dow Jones News
By Pietro Lombardi
Intesa Sanpaolo SpA has reached an agreement with BNP Paribas
Cardif to buy Italian insurer Cargeas Assicurazioni SpA for 390
million euros ($469.9 million).
The Italian bank insurance business, Intesa Sanpaolo Vita, and
French bank BNP Paribas SA's insurance unit said Monday that they
have signed a memorandum of understanding related to the deal,
while the final agreement should by signed by the end of the
month.
The deal is expected to close in the first half of the year.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
February 08, 2021 09:23 ET (14:23 GMT)
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