Clessidra "offers €280m for Fondiaria unit"

Fondiaria-SAI would retain the remaining equity in the division, Il Messaggero reported.

The news follows Clessidra CEO Claudio Sposito's recent confirmation that his company is interested in purchasing the business.

Fondiaria-SAI chief executive Fausto Marchionni told La Stampa newspaper of the plan to sell Liguria-Sasa.

There has also been speculation that a French buyer could acquire the unit, after French businessman Vincent Bollore this week increased his stake in the firm's main owner, Premafin, to more than 5%.

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