Generali: acquires 9.9 per cent of Spanish bank Bcc for 150 million and strengthens its ties with Cajamar
No impact on the solvency ratio. To be finalised in the second half of 2027
(Il Sole 24 Ore Radiocor) - Generali strengthens its position in Spain. The company has, in fact, reached an agreement to acquire a stake of approximately 9.9 per cent in Banco de Crédito Cooperativo (BCC), the holding company of Grupo Cooperativo Cajamar (GCC), for a consideration of 150 million. The transaction “represents a significant step in the evolution of the bancassurance partnership between Generali and Gcc, one of Spain’s leading financial groups, which began over 20 years ago”. The investment also strengthens “the strategic alignment between the two companies and consolidates Generali’s role as the leading insurance partner in Spain”. The transaction is “fully in line” with the strategic plan of the ‘Lion of Trieste’, which “aims to accelerate growth in the main European markets where the group already boasts a significant presence and a leading position, including through solid franchise networks and long-term partnerships”.
The transaction, which will be carried out by Generali Spain through its investment portfolio, ‘will not have a material impact’ on the group’s solvency ratio. The transaction is expected to be finalised in the second half of 2027, subject to obtaining all the necessary regulatory approvals.
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