Generali Deutschland Holding minorities squeeze-out concluded, delisting will follow shortly
07 May 2014 - 19:23 price sensitive
Trieste – Generali announces that the minorities squeeze-out of Generali Deutschland Holding AG (GDH) approved by the extraordinary general meeting of GDH last December 4th, 2013 was registered today with the Commercial Register in Germany.
By the registration of the shareholders’ resolution all the shares held by the minority shareholders in GDH were transferred to Assicurazioni Generali. The cash compensation granted to the minority shareholders is equal to €107.77 per share.
The conclusion of the squeeze-out process will be followed shortly by the delisting of the Generali Deutschland Holding shares from the stock market.
The acquisition process of the minorities of Generali’s German subsidiary is thus completed, and it is consistent with the aim of the Group to have the full control of all strategic business units. Thanks to this transaction, Generali will obtain operating synergies and tax efficiencies.
With over 13.5 million customers, over € 18 billion premium income and € 438 million net profit at the end of 2013, Generali Deutschland is the second-largest insurer in Germany. GDH holds a leadership position in direct channels and offers a complete range of Life, P&C and Health products and services with a multichannel approach.