Assicurazioni Generali Assembly, foreign funds have decided on the future of 63 billion in government bonds by voting with Mediobanca – Il Fatto Quotidiano

Between Mediobanca and the families of Italian entrepreneurs led by Francesco Gaetano Caltagirone, the foreign shareholders of Generali follow Mediobanca. In a very crowded assembly that he saw represented over 70% of the capital due to the highly contested renewal of the board of directors of the company that it holds over 60 billion of Italian government bonds, the large international investment funds have been the tip of the balance by actually choosing their new board. The one proposed by the outgoing board of directors with the support of Mediobanca, which envisages a third term for the French CEO Philippe Donnet and the position of president to the former rector of Bocconi, Andrea Sironi.

With a difference of about ten points, too many to contest the voting rights rented from Mediobanca, the opposing front of Caltagirone supported by Leonardo Del Vecchioi Benettona handful of families of entrepreneurs and banking foundations with Crt in the lead and the lawyers of the Forensic Fundyou have to settle for three places that will go to Caltagirone, Marina Brogi And Flavio Cattaneo.

And now? It is clear that the board of directors of the most important financial agglomeration in the country is not born in the best way, with an aggressive minority within. Seen it difference of more than 6% of the votes Mediobanca and shareholders at risk of dispute, however, the margins for an opposition to the result in judicial seat they are small, but the exposures have flown in these months are many and Caltagirone is certainly not the type to give up, especially after the expense faced to get here.

“I am convinced that Generali can be better and can grow a lot. For this my group presented a list that had the 42% of the votes, all Italians are with us without exception and they are all permanent partners. Members who want Generali to remain one company rooted in Italy and linked to Italy “, the Roman builder-publisher said in the evening, underlining that” those who are stable partners want that together with the wheat that is sown in October and harvested in June, the tree that will bear fruit in the years”. Caltagirone therefore promises that “as long as I consider it reasonable, I will continue to work to make the change happen”, reasoning on the fact that “a board of directors elected by 55% of the votes cannot ignore the other 45%”.

On the other hand, the conflict is quelled, certainly not healed and the heart of the Roman builder’s disputes, Banca Generali, has some delicate issues pending. Like that of the so-called “mafia bonds”, as the Financial Timesinvestments in healthcare credits which are at the center of a very confidential investigation by Milan Public Prosecutor’s Office and they have already cost the Lion bank 80 million in provisions. The operation was done with the Luxembourg group Cfe Advisorythe same that is at the origin of another investment by Banca Generali, this time linked to the Sudanese and Cuban markets, which is leading to new potential losses to the bank, as noted Mf on newsstands April 29. On the other hand, Generali has assured in recent days that the bank “is a important asset for the group thanks to its excellent performances, and the strategic plan Lifetime Partner 24: Driving Growth provides for the organic development of the bank itself as part of the group General “.

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Assicurazioni Generali Assembly, foreign funds have decided on the future of 63 billion in government bonds by voting with Mediobanca – Il Fatto Quotidiano


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