Benetton's Edizione to raise Generali stake to around 2 pct - source

By Kitco News / January 24, 2018 / www.kitco.com / Article Link

MILAN, Jan 24 (Reuters) - Italy's Edizione Holding, the investment vehicle of the Benetton family, plans to double its stake in the country's biggest insurer Generali to around 2 percent, a banking source said on Wednesday.

Edizione Holding declined to comment on the issue.

The holding firm, which currently owns a stake of 0.94 percent in the insurer, is cash-rich after having sold a majority stake in duty free group World Duty Free.

At current market prices, one percent of Generali is worth around 250 million euros ($310 million).

Edizione controls Italian road and airport operator Atlantia and travel caterer Autogrill , but also has investments in the clothing, insurance and real estate sectors.

($1 = 0.8076 euros)


(Reporting by Paola Arosio; Writing by Francesca Landini)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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