Home » Generali, Caltagirone withdraws from the agreement with Del Vecchio and the Crt Foundation. There is the knot of the “concert”

Generali, Caltagirone withdraws from the agreement with Del Vecchio and the Crt Foundation. There is the knot of the “concert”

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Twist of the scene in the dispute for the control of Assicurazioni Generali: the deputy vice president and 7.98% shareholder, Francesco Gaetano Caltagirone, withdraws from the consultation agreement that unites him with the other shareholders Leonardo Del Vecchio (through Delfin) and the Crt Foundation, because the function of the alliance is considered “out of date”. “The companies of the Caltagirone group have reached the decision to present their own slate for the renewal of the board of directors of Assicurazioni Generali, although no unambiguous determination has yet been made regarding the promotion of a so-called” long “or” short “list” , reads the letter sent by the Caltagirone group to Delfin and the Crt Foundation to explain the reasons behind the decision to dissolve the consultation commitments, in view of the meeting to be held at the end of April for the renewal of the board of directors. The reason is that it is considered that “the function to which the agreement was preordained has now been superseded”, which today accounts for 16.2% of Generali.

The three shareholders, gathered in an alliance immediately defined as “consultation”, have never made any secret of not appreciating the confirmation of the CEO of the Trieste insurance group, Philippe Donnet, unlike the first Mediobanca shareholder (17.25 % of voting rights on Generali) and the De Agostini Group. Hence the idea, circulated in recent times, of presenting a “joint” list for the appointment of the new board, an alternative and in fact opposed to the one, “blessed” by Piazzetta Cuccia, that the same outgoing board of directors of the group Trieste is preparing to elaborate. Furthermore, rumors gave Caltagirone and Del Vecchio to work also for the presentation of their industrial plan for Generali.

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At this point, everything seems to be called into question. And the exit from the agreement of the Roman publisher and builder could be interpreted as a way to disengage from the other “friendly” shareholders and to silence any hypothesis of a concert or a “strong” alliance, which would have instead required an authorization from the ‘Ivass, the insurance authority, for overcoming the critical barrier of 10% of Generali. A group that is worth almost 29 billion euros on the stock exchange.

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