Generali buys out Czech group from its CEE holding
Italian insurance group Generali increased its stake in Generali PPF Holding B.V. (GPH) to 100% and will rename the holding company Generali CEE Holding B.V., which opreates in many countries in Central-Eastern Europe, including Hungary, the company announced on Friday.
Generali acquired the remaining 24% of GPH shares from minority shareholder PPF Group, a company owned by Czech businessman Petre Kellner, in line with the agreements signed in January 2013, for a final price of €1.2 bln. A decision on terminating the partnership was made in January 2013 and the buyout by Generali was completed in two steps.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.