Latest news with #FrancescoGaetanoCaltagirone
Yahoo
5 days ago
- Business
- Yahoo
Mediobanca investor Caltagirone urges bank to delay shareholder vote on Banca Generali
MILAN (Reuters) -Francesco Gaetano Caltagirone, one of the main investors in Mediobanca, is urging its board to delay a shareholder vote on the proposed acquisition of private bank Banca Generali , his holding company VM 2006 said on Tuesday. Mediobanca has proposed buying Banca Generali in an effort to thwart a takeover offer by Monte dei Paschi di Siena (MPS), a bailed-out lender in which Caltagirone is also a shareholder. The Italian tycoon repeatedly expressed a negative view on the Mediobanca's proposed acquisition of Banca Generali, saying that he did not see value in the bid. Due to the MPS bid, Mediobanca must first seek shareholder approval to pursue the deal and has called a meeting on June 16 to vote on the plan. The Italian merchant bank is planning to finance the deal by tendering its 13% stake in Italy's top insurer Generali, which is the controlling shareholder in Banca Generali. The Banca Generali deal includes the signing of an industrial partnership between Mediobanca and Generali. Caltagirone asked Mediobanca's board to postpone the assembly until the partnership agreements, the terms of which are not yet known, are finalised as they are "an essential part of the offer", VM 2006 said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
20-04-2025
- Business
- Bloomberg
Caltagirone Concerned About Generali-Natixis Investment JV: Sole
Italian construction magnate Francesco Gaetano Caltagirone expressed concern about a proposed link-up between Assicurazioni Generali SpA and BPCE 's asset management units. The partnership offers few economic advantages and would effectively 'dismantle' Generali, Caltagirone said in an interview with Il Sole 24 Ore published on Sunday.
Reuters
17-04-2025
- Business
- Reuters
MPS set for Mediobanca bid backing as Caltagirone lifts stake
SIENA, Italy, April 17 (Reuters) - Italy's Monte dei Paschi di Siena ( opens new tab said leading investor Francesco Gaetano Caltagirone had increased his stake in the bank, in a move that boosts the chances of shareholder approval for its takeover bid for rival Mediobanca ( opens new tab. MPS unveiled the surprise 12.5 billion euro ($14 billion) all-share bid in January, shocking investors with a swoop that pitted the bailed-out Tuscan lender against one of the most prestigious names in Italian finance, a former powerhouse that used to pull the strings of Italy Inc. Caltagirone and the heirs of late Italian billionaire Leonardo Del Vecchio lead a group of Italian shareholders in MPS who are in favour of the bid. They represent over half of the bank's capital, or more than two thirds of the capital attending Thursday's meeting, which suggests the proposal should clear the necessary approval threshold. Shareholders accounting for 73.5% of MPS' capital were present on Thursday, Chairman Nicola Maione said, kicking off the bank's annual general meeting. Maione said Caltagirone held 9.96% of MPS, compared with 5% from the latest official record. The Del Vecchio family's holding company Delfin had also raised its stake in MPS to 9.86% in recent months after first becoming a shareholder, alongside Caltagirone, when the Treasury last sold a chunk of MPS in November. The Treasury retains 11.7%. It stood at 64% in November 2023 when it first started selling down its stake in the world's oldest bank which it had rescued in 2017. The other investors in favour include international funds such as Norway's sovereign wealth fund and Pimco, as well as other Italian institutional shareholders like some pension funds and bank Banco BPM ( opens new tab and fund manager Anima Holding ( opens new tab. ($1 = 0.8787 euros)
Reuters
28-03-2025
- Business
- Reuters
Third-largest Generali investor proposes board candidates including Enel, Acea CEOs
MILAN, March 28 (Reuters) - Generali's ( opens new tab third-largest investor, Italian business tycoon Francesco Gaetano Caltagirone, proposed on Friday a slate of six candidates for the new board of the country's biggest insurer. Utility Enel's ( opens new tab Chief Executive Flavio Cattaneo, and the CEO of the smaller Rome utility Acea ( opens new tab, Fabrizio Palermo, are among Caltagirone's candidates. The construction and publishing billionaire has a 6.9% stake in Generali. The insurer's investors will vote in a new board on April 24. Mediobanca ( opens new tab, Generali's top investor, said on Friday it had proposed another term for current CEO Philippe Donnet.
Reuters
24-03-2025
- Business
- Reuters
Banco BPM's bid for Anima over 50% threshold, according to Reuters calculations
MILAN, March 24 (Reuters) - The take up for Banco BPM ( opens new tab's bid for Anima Holding ( opens new tab has potentially crossed the 50% threshold including the bank's own stake, according to Reuters calculations. The threshold was cleared after Italian businessman Francesco Gaetano Caltagirone agreed on Monday to tender his 5.8% stake n Anima to Banco's bid.
