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UnipolSai Assicurazioni S.p.A. (UNPLF)
- Reuters
Italy's Unipol makes buyout offer valuing UnipolSai at $8.2 billion
(Reuters) -Italian financial group Unipol announced on Friday an offer for the 14.75% of UnipolSai it does not own, valuing the insurer at 7.64 billion euros ($8.2 billion) in a deal to simplify the group's structure. Shares in Unipol jumped as much as 23.5% after the long-awaited move, hitting their highest level since February 2012. Shares in Italy's second-largest insurer UnipolSai, whose board approved the offer, rose as much as 12.4%.
- Reuters SG
RPT-UPDATE 1-Cinven bought Eurovita bonds from GIC, others to help liquidation-source
Private equity firm Cinven has agreed to buy back 160 million euros ($170 million) of debt sold by its insurer Eurovita and is open to supporting other measures to avoid a messy liquidation of the Italian company, a person with knowledge of the situation told Reuters. Cinven this month signed an accord with GIC, Singapore's sovereign fund, and another two investors to purchase from them 140 million euros of Tier2 Eurovita bonds, the source added. GIC and Eurovita had no comment.
