Purchase of the minority stake in Berica Vita from Banca Popolare di Vicenza in receivership
Verona, 28 July 2020. Today Cattolica Assicurazioni purchased a 40% stake in Berica Vita S.p.A. from Banca Popolare di Vicenza in receivership. Following the acquisition, Cattolica Assicurazioni now holds 100% of Berica Vita’s share capital.
The transaction concludes the reorganization process on the subsidiaries held in joint ventures with Banca Popolare di Vicenza and it fits into the broader context of rationalisation and simplification of the Cattolica Group.
The acquisition of Berica Vita S.p.A. doesn’t materially affect the Cattolica Group’s solvency position.
NatWest Markets acted as financial advisor to Cattolica in regards to the transaction.