Sator and Palladio make new bid for Fondiaria

In late April, the proposed merger was suspended by Italy's antitrust authority. The suspension will last 45 days as authorities investigate the proposal and cross-shareholdings held by Italian bank Mediobanca. The bank is a creditor to Fondiaria, owned by one of its board members, and is leading the consortium underwriting the proposed merger. It is also the largest shareholder of Generali, another insurance giant in Italy.

The second bid follows the expiry of the initial €850m offer, made to address the capital shortage at the struggling insurance company via a capital injection into parent company Premafin. Should the proposal go ahead, the private equity funds will own between 34-44% of the insurance company.

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• Topics
• Southern Europe
• Italy
• Palladio Finanziaria
• Sator
• Mediobanca