Cattolica Assicurazioni acquires 11.75% of Intermonte Sim - Agreement for cooperation in several areas
Joint press release
Verona/Milan, 08 September 2010
Intermonte Holding and Cattolica Assicurazioni have entered into a cooperation & development framework agreement. Cattolica will acquire an 11.75% interest in Intermonte Sim – a securities brokerage company that is leader in the Italian equity market in business with institutional investors.
The deal, which is subject to approval by the Bank of Italy, will take place by means of a reserved capital increase. Control of Intermonte Sim will be retained by management, which via Intermonte Holding will maintain an equity interest of over 70%. The MPS Group will remain a shareholder with a 17.65% interest.
Cattolica Assicurazioni will take part in the development of Intermonte Sim, in particular as regards new initiatives in the private equity field. In the medium term Intermonte Sim’s plan envisages the entry of further qualified institutional investors.