Banca Generali offers 3.04 euros/shr to buy out Intermonte, delist it (updated)
16/09/2024 07:05
(Recasts and rewrites throughout with details from Banca
Generali statement)
MILAN, Sept 16 (Reuters) -
Italy's Banca Generali BGN.MI said on Monday it was
launching a 98 million euro ($109 mln) takeover bid on
Intermonte INTM.MI , offering 3.04 euros a share to buy out
other investors in the Milanese investment firm and take it
private.
Shares in Intermonte closed at 2.49 euros each on
Friday, meaning the price of Banca Generali's bid entails a
21.9% premium.
Banca Generali, which runs the asset gathering business
of insurer Generali, said Intermonte's controlling shareholders.
who own 52% of its capital, had already agreed to take up the
offer.
Intermonte separetly said its board would soon start
assessing the bid, without providing further details. ($1 =
0.9011 euros)
(Reporting by Cristina Carlevaro, editing Giulia Segreti and
Valentina Za)
((cristina.carlevaro@thomsonreuters.com; +39 06 80307729;))