Purchase of the minority stake in ABC Assicura from Banca Popolare di Vicenza in receivership
20 February 2020 - Time: 17:35
Verona, 20 February 2020. Today Cattolica Assicurazioni purchased a 40% stake in ABC Assicura S.p.A.1 from Banca Popolare di Vicenza in receivership.
Following the acquisition, Cattolica Assicurazioni now holds 100% of ABC Assicura’s share capital.
The transaction fits into the broader context of rationalisation and simplification of the Cattolica Group and it doesn’t materially affect the Group’s solvency position.
1 ABC Assicura is a company of the Cattolica Assicurazioni Group, currently in run-off after the start, in 2017, of the insolvency proceedings in respect of Banca Popolare di Vicenza. The company was established as a joint venture in the context of the business partnership with Banca Popolare di Vicenza.