Generali, rumors of movement on asset management. The Bank could sell, the stocks heat up

Voices of Generali on the move: according to what is reported Bloomberg, the Compagnia del Leone could sell Banca Generali to Mediobanca, to finance the purchase of Guggenheim’s wealth management assets. News that made itself felt on the stock market, where the shares involved have grinded up in the face of a timid day: Generali rises by 1.55%, Banca Generali is suspended on the rise (theoretically + 6.2%). Mediobanca was also stopped in the volatility auction with a theoretical increase of 6.15 per cent.

Piazzetta Cuccia had already concretely looked at the asset manager but the operation had found the opposition of some shareholders of the Leone on the terms of the deal. The same Bloomberg on the other hand, he points out that the agreement, which could take different forms, from the complete acquisition of the asset management assets to a partnership or an investment, may not go through or that Generali could also end up identifying another objective, again in the United States .

“From time to time, we have inquiries and even discussions with third parties who want to consider joint ventures or who are looking to make capital investments in our company,” Guggenheim spokesman Gerard Carney told the financial agency. “these conversations that occur routinely, and often more than one at a time.”

Guggheneim, founded in 1999, is headquartered in New York and Chicago manages over $ 228 billion in assets. Generali Investments managed approximately 575 billion euros at the end of 2021. It operates through 1,200 asset managers and specialists in more than 20 countries and has added more than € 100 billion of third-party assets over the past 3 years.