Generali's Natixis Deal Remains Key as Balancing Act Plays out -- Market Talk

Dow Jones
2025/06/09

0926 GMT - The most critical question for Generali's shareholders is whether the asset-management joint venture with Groupe BPCE's Natixis will be approved, AlphaValue says in a research note. The battle for influence at the Italian insurer is heating up as its main shareholder, Mediobanca, seeks approval to buy Banca Generali with the stake it owns in the bank's parent. The potential for economies of scale from the Natixis deal more than offset the risks but meaningful obstacles remain, analyst Antoine Bouchetoux writes. These include opposition from Roman tycoon Caltagirone, a top shareholder, and political concerns around the insurer's holding of Italian government bonds. The transaction is being reviewed by the state and is unlikely to go ahead if authorities formally oppose it, he notes. (elena.vardon@wsj.com)

 

(END) Dow Jones Newswires

June 09, 2025 05:26 ET (09:26 GMT)

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