The Italian Competition Authority clears a transaction between leading insurance firms for the acquisition of control of a company operating in the same insurance sector (Società Cattolica di Assicurazione / FATA Assicurazioni Danni)

Background With decision n. 24828 of last 5th March 2014 [1] the Italian Competition Authority (the “Authority”) cleared a transaction for the sale and purchase of shares representing the entire corporate capital of FATA Assicurazioni Danni S.p.A. (“FATA”) from Generali Italia S.p.A. (“Generali Italia”), acting as a seller, to Società Cattolica di Assicurazione soc. coop. (“Cattolica”), acting as a purchaser. Generali Italia is a company directly and entirely owned by Assicurazioni Generali S.p.A. (“Generali”). The transaction involved two leading Italian insurance firms and it was aimed, on one side, at strengthening Generali’s financial position and, on the other side, at allowing Cattolica to pursue instances of external growth. In particular, Cattolica through the acquisition might be able

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  • C partners law and tax firm (Milan)

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Giorgio Vagnoni, The Italian Competition Authority clears a transaction between leading insurance firms for the acquisition of control of a company operating in the same insurance sector (Società Cattolica di Assicurazione / FATA Assicurazioni Danni), 5 March 2014, e-Competitions March 2014, Art. N° 65280

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