Generali exploring various acquisition options in U.S. – source
3:53 pm Friday, September 30th, 2022
MILAN (Reuters) – Generali has been exploring several dossiers in the U.S. for a potential acquisition in the asset management business, a source close to the matter said after a report that the Italian insurer may be considering a deal with U.S.-based Guggenheim Partners.
Bloomberg News said Italy’s biggest insurer has held informal talks on options ranging from a full acquisition of Guggenheim’s asset management business to a partnership or strategic investment, citing people familiar with the matter.
The source told Reuters Guggenheim may be among the dossiers that Generali had looked at.
Asked about Banca Generali, which the report said could be sold to investment bank Mediobanca to raise cash for any deal, the person said there were no active talks between Generali and Mediobanca on Banca Generali now.
(Reporting by Gianluca Semeraro, writing by Agnieszka Flak)
