The largest bank in Italy, Intesa Sanpaolo, announced today that it will invest 360 million euros ($382 million) in cash to acquire the remaining 26.2% of healthcare insurer Intesa Sanpaolo RBM Salute.
Intesa Sanpaolo Vita, the group’s insurance division, acquired 50% plus one share of RBM from its owners, the holding firm of the Favaretto family, in 2020 for 325 million euros.
At the end of 2021, it increased the company’s funding by issuing new shares; the Favaretto family’s ownership decreased to 26.2% as a result.
Prior to two call options scheduled for 2026 and 2029, Intesa has attempted to assume total control of RBM.
Financial and legal counsel was provided by KPMG Corporate Finance and Pedersoli, respectively.
According to a message from the bank, the agreement intends to advance the operations of Intesa Sanpaolo RBM Salute by increasing synergies with the rest of the group.
Intesa Sanpaolo Rbm Salute S.P.A. offers life and health insurance goods and services. The company provides a variety of life insurance products, such as profit, accident, health, and composite plans. Customers in Italy are served by Rbm Assicurazione Salute.
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