Generali in Block Trade Sale

April 9, 2013

Cleary Gottlieb represented Assicurazioni Generali S.p.A. (“Generali”) in connection with the sale by Generali of 13,666,593 ordinary shares of its subsidiary, Banca Generali S.p.A. (“Banca Generali”), for consideration of approximately €185 million. Following the sale, which represented approximately 12% of Banca Generali’s ordinary shares, Generali continues to hold a controlling interest in the bank. UBS and Mediobanca acted as joint global coordinators and joint bookrunners for the sale, which was conducted pursuant to an accelerated bookbuild offering. Banca Generali’s ordinary shares are listed on the Milan Stock Exchange, and the transaction closed on April 9.

Generali is one of Europe’s largest insurance providers and the biggest European life insurer, with total premium income of €70 billion in 2012.