Generali to pay 1.1 bln euros in Czech deal

26.04.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

MILAN, April 26 (Reuters) - Italy's largest insurer Generali said on Thursday it has agreed a joint venture with PPF, which controls No. 1...

...Czech insurer Ceska Pojistovna, and will put in 1.1 billion euros ($1.50 billion) and central European assets.

Under the agreed deal, Generali will take a 51 percent stake in the joint venture and put in assets worth 1.5 billion euros, both companies said in a statement.

PPF will own the remaining 49 percent of the joint venture.

The deal, expected to be completed in the second half of 2007, values Ceska Pojistovna at 3.6 billion euros.

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