Merger by incorporation of Fata Assicurazioni into Cattolica Assicurazioni
Verona, October 4th, 2016
Following the press release of April 5th, 2016 and after having received the legal authorisations from the competent Authority, the Board of Directors of Cattolica Assicurazioni, which met today under the chairmanship of Paolo Bedoni, approved the merger by incorporation of Fata Assicurazioni Danni S.p.A.1 in Cattolica Assicurazioni Soc. Coop.
This decision represents the last step of Fata’s rapid and effective integration process within the Group, in accordance with Cattolica’s strategic choice to reinforce its position in the agro-food sector especially after signing strategic partnerships with associations of primary importance.
The transaction will enable the enhancement of Fata Brand name, the unification of business divisions, an acceleration in the creation of a single and innovative portfolio of products, ensuring harmonised management processes for the benefit of agent networks and customers. This merger will enable further cost synergies to be achieved, as well as improving capital management efficiency.
1 In relation to what is provided under Article 6.1 point d) of CONSOB Regulation no. 17221 of March 12th, 2011, it is stated that upon approval of the transaction, the Procedure for the management of transactions with related parties approved by the Board of Directors of Cattolica has not been applied in that this Procedure provides for, inter alia, the exclusion of intra-group transactions provided that (as in this case) there are no significant interests of related parties of Cattolica other than the Group companies in the companies involved in relation to the particular transaction. It should be noted that Fata Assicurazioni Danni S.p.A. directly and totally owned by the Parent Company.