Carige in exclusive discussion with Apollo to sell insurance businesses

Banca Carige has been reportedly engaged in exclusive negotiations with Apollo Management Holdings, a US investment fund, to divest its two insurance businesses - Carige Vita Nuova and Carige Assicurazioni.

The proposed disposal is part of strategies outlined in the 2014-2018 business plan, as proposed by CEO Piero Luigi Montani and approved by the board on 27 March 2014.

The divesture of Carige Vita Nuova and Carige Assicurazioni will enable the Italian bank to shore up the required capital, ahead of a regulatory health check.

In this transaction, Banca Carige has been advised by Mediobanca – Banca di Credito Finanziario, together with Leonardo & Co and Legance Avvocati Associati.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Life Insurance International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.