By Pietro Lombardi

 

Italian insurer Societa Cattolica di Assicurazione SpA said late Monday that it would delay a planned 200 million euros ($243.8 million) capital increase to give its shareholders the opportunity to consider Assicurazioni Generali SpA's takeover offer.

Last week, Generali, Italy's largest insurer, launched a EUR1.18 billion offer for its smaller peer and the suspension of the cash call was among the conditions it set in the offer.

"This decision does not preclude or condition in any way the right and duty of the Board of Directors to evaluate the Offer and the fairness of the consideration proposed by Assicurazioni Generali, in the interest of Cattolica and of all its shareholders," Cattolica said.

Generali is already Cattolica's largest shareholder, with a stake of about 24%.

 

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

 

(END) Dow Jones Newswires

June 08, 2021 01:27 ET (05:27 GMT)

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