(ANSA) - MILAN, NOV 22 - The De Agostini Group announces that it has launched a project for the gradual disposal of its 1.44% stake in Generali.
In this context, a note reads, a first operation was carried out consisting of a derivative instrument on 2.25 million shares, equal to 0.14% of the share capital of Leone.
The characteristics of the transaction will allow DeAgostini to exercise voting rights at the General Meeting next spring, when the board of directors will also have to be renewed.
In this regard, De Agostini "expresses his appreciation for the work of the management of the insurance company, of which he shared objectives and values, as well as the esteem and harmony towards the CEO Philippe Donnet, who in the course of the last two mandates has been able to distinguish himself for his strategic vision, technical competence and managerial completeness. Quality - concludes the note - which have translated into excellent industrial and financial results ".
The proceeds from the sale will be used by De Agostin to pursue new investment opportunities in the near future.
(HANDLE).
