Cattolica scraps RT1 plans after Generali rescue

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By David Freitas
25 Jun 2020

Generali agreed to take a large stake in fellow Italian insurance company Cattolica this week. The deal includes plans for a €500m capital increase, which takes the pressure off Cattolica to boost its solvency position and means the firm will no longer seek to access the market for restricted tier one debt.

Generali said on Thursday that it was committed to acquiring 24.4% of Cattolica through a reserved share capital increase worth €300m. 

Cattolica will then launch another €200m capital increase, which will be open to all shareholders. The partnership is also subject to the company's transformation into a joint stock ...

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