Private equity funds Sator and Palladio Finanziaria have revised their offer to rescue troubled Italian insurer Fondiaria-SAI proposing a capital increase of no less than 800 million euros. The funds said in a joint statement they would subscribe to 400 million euros of the planned cash call at a price of 2.0-2.5 euros per share.
(Reuters) – Private equity funds Sator and Palladio Finanziaria have revised their offer to rescue troubled Italian insurer Fondiaria-SAI proposing a capital increase of no less than 800 million euros.
The funds said in a joint statement they would subscribe to 400 million euros of the planned cash call at a price of 2.0-2.5 euros per share.
An amount of at least 400 million euros will be offered to Fondiaria’s shareholders at a price no higher than half the price set in the cash call reserved for the funds.
(Reporting By Stephen Jewkes)
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