Investment Intelligence provides up-to-date private equity information and news designed for entrepreneurs, private equity investors and corporate acquirors interested in Central & Eastern Europe.

Assicurazioni Generali

Basic Element Maintains There Will Be No Sale of Ingosstrakh

Posted Wed, 01/07/2009 - 12:39 by Invest-IQ Team

Basic Element, the Russian private investment firm owned by Oleg Deripaska has reportedly pulled out of negotiations to sell its 60% stake in local insurer Ingosstrakh. Russian and international press have been reporting an offer by Italian insurer Generali and Czech private equity fund PPF Investments to purchase Ingosstrakh for some $970 million (CZK 18.2 billion). Basic Element is alleged to have pulled out of the negotiations after voicing its displeasure over the plan to have control over Ingosstrakh vested in both partners rather than just Generali.

Generali PPF Offers Takeover of ARDF

Posted Wed, 10/06/2009 - 14:31

The majority shareholder of Romanian insurance firm ARDF is poised to delist it from the RASDAQ market after acquiring what remains of the company's shares. Generali PPF plans a public offer for mandatory takeover of ARDF, at a cost of up to RON 21.58 million. The outstanding shares amount to 18% of the total, or 196,206,286 shares.

Generali Joins Forces With PPF in New PE Venture

Posted Thu, 04/06/2009 - 00:00

PPF Group, the European private equity firm has joined forces with Italian insurance company Assicurazioni Generali to launch a new private equity firm for investment in the CIS and CEE. The new company will be known as PPF Partners Limited, with PPF Group holding 72.5% and Assicurazioni Generali 27.5%. The joint deal is seen as a way that both companies can benefit from one another's experience and knowledge, making the success of the fund greater. With their first fund already underway, the joint venture company plans to launch a new fund in each new calendar year.

PPF Withdraws Objections to Zentiva Sale

Posted Fri, 13/02/2009 - 01:00

Czech finance firm PPF, a privately held investment group has agreed to sell its shares of generic drug maker Zentiva. Zentiva had been working on a deal for the takeover of the company by French pharmaceutical giant Sanofi-Aventis. Sanofi's bid which was scheduled to expire February 20th, was contingent upon them acquiring at least 50% of Zentiva's shares.