The top shareholder of Premafin, the holding company that controls troubled Italian insurer Fondiaria-SAI, said he is open to all proposals to rescue the company, writes reuters. Private equity funds Palladio Finanziaria and Sator, the investment vehicle of banker Matteo Arpe, bought an 8 percent stake in Fondiaria earlier this month and have said they are willing to invest further, writes, reuters.
Reuters – The top shareholder of Premafin, the holding company that controls Italian firm Fondiaria-SAI, said on Thursday he was open to all proposals to rescue the troubled insurer.
“We will evaluate everything,” Salvatore Ligresti said.
At the end of January, Mediobanca got Italian insurer Unipol to agree to rescue the money-losing Fondiaria in a four-way merger deal.
But that was waylaid earlier this month when private equity funds Palladio Finanziaria and Sator, the investment vehicle of banker Matteo Arpe, bought an 8 percent stake in Fondiaria.
On Wednesday the two private equity companies said they were ready to pump up to 450 million euros into Premafin to help shore up its depleted capital base and support a cash call at Fondiaria.
(Reporting By Andrea Mandala)
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