Portfolio footprint optimization
Proceeds from disposals: prox € 4 bln
In May, the disposal of Fata Assicurazioni Danni S.p.A. (Italy) was completed and in July, Generali signed an agreement to sell its entire interest in the BSI Group. These disposals, together with those of previous years regarding the Israeli, American and Mexican assets and the partial placement of Banca Generali, have allowed the achievement of the forecasted targets one year in advance.
With reference to the geographical portfolio footprint optimization strategy, the Group made significant investments: in May, the acquisition of the minorities of Generali Deutschland Holding AG (Germany) took place with the contextual transfer to Assicurazioni Generali of all the shares previously owned by the minority shareholders. In July, the Group reached an agreement with Allianz to become sole owner of Citylife S.p.A., through the acquisition of the remaining 33% of the company.
In January 2015, the acquisition of 100% of GPH , the holding company operating in Central-European countries, with the exercise by PPF of the sale option on the remaining 24% of the shares was concluded.